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CENTRAL BANK & TRUST CO. v. KINCAID

617 S.W.2d 32 (1981)

CENTRAL BANK & TRUST COMPANY, a Kentucky corporation, as Executor of the Estate of Garvice D. Kincaid, Deceased et al, Movants, v. Joan D. KINCAID, Respondent.

Supreme Court of Kentucky.

As Modified on Denial of Rehearing July 7, 1981.

Attorney(s) appearing for the Case

Kincaid, Wilson, Schaeffer & Hembree, P.S.C., Miller, Griffin & Marks, P.S.C., Lexington, Bert T. Combs, Robert K. Cullen, Wyatt, Tarrant & Combs, Louisville, for movants.

Ronald L. Gaffney, Barnett & Alagia, Louisville, James Park, Jr., Paul E. Sullivan, Sullivan & Mohr, Lexington, for respondent.

STERNBERG, Justice.

This is an action to construe a unilateral option contract. In June of 1973 (the exact date is not shown by the record), Joan Kincaid granted an option to G. D. Kincaid for the privilege of purchasing 90,760 shares of stock owned by her in the Lexington Finance Company, for which she had paid $196,424.25. The option is not lengthy, so we copy it in full, to-wit:

"For and in consideration of One Dollar ($1.00) cash in hand paid, and other...

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