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ADAMS v. WADDELL

Nos. 2269 and 2270.

543 P.2d 215 (1975)

Michael A. ADAMS, Appellant, v. Albert O. WADDELL et al., Appellees. Albert O. WADDELL and Ethel Waddell, Cross-Appellants, v. Michael A. ADAMS, Cross-Appellee.

Supreme Court of Alaska.

December 1, 1975.

Attorney(s) appearing for the Case

Peter B. Walton, Peter Walton & Associates, Anchorage, for appellant and cross-appellee.

James C. Merbs, Anchorage, for appellees and cross-appellants Waddells.

David H. Bundy, Ely, Guess & Rudd, Anchorage, for appellee Alaska State Bank.

Before RABINOWITZ, Chief Justice, and CONNOR, ERWIN, BOOCHEVER and BURKE, Justices.

OPINION

PER CURIAM.

On April 22, 1970, Michael A. Adams, as lessor, and Albert O. Waddell and Ethel Waddell, husband and wife, as lessees, entered into a lease with option agreement. Adams leased to the Waddells certain real property on DeBarr Road in Anchorage, Alaska, for a term of twenty years and granted to the Waddells an option to purchase the property exercisable either on April 1, 1972, or on April 1, 1974. The option agreement, contained in the...

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