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WHITETAIL DEVELOPMENT CORP. v. NICKELSON

2950504.

689 So.2d 865 (1996)

WHITETAIL DEVELOPMENT CORPORATION, INC. v. Barney C. NICKELSON and Christy B. Nickelson.

Court of Civil Appeals of Alabama.

Rehearing Denied October 18, 1996.

Certiorari Denied January 24, 1997.

Attorney(s) appearing for the Case

David H. Meginniss and Ralph W. Hornsby of Hornsby, Watson & Meginniss, Huntsville, for Appellant.

Robert J. Landry and Stuart M. Maples of Johnston, Johnston & Moore, Huntsville, for Appellees.

Alabama Supreme Court 1960165.

YATES, Judge.

On September 20, 1991, Whitetail Development Corporation, Inc. ("Whitetail"), entered into a contract with Barney C. Nickelson and Christy B. Nickelson to resolve a dispute over an option held by Whitetail on 690 acres of real estate owned by the Nickelsons. Under the terms of the contract, Whitetail released its option in exchange for the Nickelsons' promise to pay $225,000 in the event they sold the property or...

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