Charles H. DUNLAP and Nancy S. Dunlap, his wife, Appellants,
FORT MOHAVE FARMS, INC., a corporation; Robert M. Bonelli and Barbara B. Bonelli, his wife; Pyramid Land, Inc., a corporation; and Lane Title and Trust Company, a corporation, Appellees.
Rehearing Denied July 6, 1961.
[89 Ariz. 388] Lewis, Roca, Scoville, Beauchamp & Linton and W. E. Patterson, John P. Frank and Jeremy Butler, Phoenix, Gordon & Gordon, Kingman, for appellants.
Elmer C. Coker, Phoenix, for appellees Fort Mohave Farms, Inc., and Robert M. and Barbara B. Bonelli.
Christy, Kleinman, Peterson & Hoyt, Phoenix, for appellee Pyramid Land, Inc.
This action was brought by Charles H. Dunlap and wife, appellants (hereinafter
called plaintiffs), against Fort Mohave Farms, Inc., a corporation, Robert M. Bonelli and wife, and Pyramid Land, Inc., a corporation, appellees (hereinafter called defendants), to enforce the specific performance of a contract for the sale of certain realty situated in Mohave County, Arizona. For a second and alternative cause of action plaintiffs sued for damages. Defendants filed motions to dismiss plaintiffs' amended complaint which were treated as motions for summary judgment by the court. The trial court granted the motions to dismiss and entered judgment in favor of the defendants. From this judgment plaintiffs appeal.
There are two options involved in this litigation. The first was dated December 16, 1958, wherein defendant Fort Mohave Farms, inc. through the Bonellis, granted to plaintiffs, Charles H. Dunlap and wife, an option to purchase two parcels of real property situated in Mohave County, Arizona, designated as Tract A and Tract B.
Consideration for this option was the consummation of a purchase agreement through Lane Title & Trust Company, Escrow No. 108,048. The pertinent provisions of this option were as follows:
'Tract A: Located in Township 19 North, Range 22 West, G&SRB&M
Parcel No. 1: Section 14 (640 Acres @ $75.00 per Acre).
[89 Ariz. 389] Parcel No. 2: South half of Section 13 (320 Acres @ $25.00 per acre).
Total Price: $56,000.00
'Tract B: Located in Township 19 North, Range 22 West, G&SRB&M
Parcel No. 1: Section 23 (520 Acres owned by Fort Mohave Farms @ $75.00 per Acre).
Parcel No. 2: East half of Section 22 (320 Acres @ $75.00 per Acre).
Parcel No. 3: South half of Section 1 (320 Acres @ $25.00 per Acre).
Total Price: $71,000.00
'In Consideration of your entering into a purchase agreement covered by Escrow No. 108,048, Lane Title & Trust Company, on certain lands which we own in the Mohave Valley, Mohave County, Arizona, we hereby grant you an option to purchase the following parcels of land which we hold in the same area. These parcels may be seprately purchased in two pieces, and the lands included and the price thereof is listed as follows:
(Tracts A and B as set forth above)
'The terms of sale during said period shall be twenty-nine per cent (29%) down, with the balance payable in five (5) equal payments.
'This option shall be considered revoked only in the event that we, as owners, have made a bona fide sale to a third party at the same price ...