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GULF OIL CORP. v. CHIODO

No. 85-2150.

804 F.2d 284 (1986)

GULF OIL CORPORATION, a Pennsylvania Corporation, Appellant, v. Lydia CHIODO, Appellee.

United States Court of Appeals, Fourth Circuit.

Decided November 3, 1986.

Attorney(s) appearing for the Case

William E. Galeota (Herbert G. Underwood, Steptoe & Johnson, Clarksburg, W.Va., on brief), for appellant.

David J. Straface (S.J. Angotti, Angotti & Straface, Morgantown, W. Va., on brief), for appellee.

Before MURNAGHAN and WILKINSON, Circuit Judges, and HAYNSWORTH, Senior Circuit Judge.

HAYNSWORTH, Senior Circuit Judge:

This is an action in the diversity jurisdiction for the specific performance of a purchase option contained in the lease of an automobile service station. Upon consideration of cross motions for summary judgment, the district court granted the defendant's motion, holding that the fixed price purchase option was extinguished by the lessee's failure to exercise another option of first refusal after the lessor informed it of the receipt...

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