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WILMINGTON TRUST COMPANY v. CLARK

325 A.2d 383 (1974)

WILMINGTON TRUST COMPANY, Executor under Will of William H. Parsons, Deceased, Plaintiff, v. John F. CLARK and Mary A. Clark, Defendants.

Court of Chancery of Delaware, Kent.

Decided August 28, 1974.

Attorney(s) appearing for the Case

Henry R. Horsey of Morris, James, Hitchens & Williams, Dover, for plaintiff.

William M. Chasanov of Brown, Shiels & Barros, Georgetown, for defendants.

MARVEL, Vice Chancellor:

On October 30, 1970, the defendants John and Mary Clark as sellers and William Parsons as buyer entered into a contract under the terms of which the former undertook to sell to the latter "... all of the merchantable timber ... standing and growing upon ..." a 50 acre tract of land owned by defendants and located near Greenwood in Sussex County, paragraph 3 of the agreement providing that Mr. Parsons "... shall have a period of two (2) years...

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