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SHAFFER v. BELLOWS

No. S-13894.

260 P.3d 1064 (2011)

Bradley SHAFFER, Appellant, v. Kenneth BELLOWS, Ronald D. Bellows, and Marlys Dee Hanson, Appellees.

Supreme Court of Alaska.

September 23, 2011.

Attorney(s) appearing for the Case

Z. Kent Sullivan , Baxter Bruce & Sullivan P.C., Juneau, for Appellant.

James W. McGowan , Sitka, for Appellees.

Before: CARPENETI, Chief Justice, FABE, WINFREE, CHRISTEN, and STOWERS, Justices.

OPINION

CARPENETI, Chief Justice.

I. INTRODUCTION

Two men bought an island. After a dispute, they agreed that one would keep the island, while the other would receive a one-time payment and an option to buy the island at a fixed price, adjusted for inflation, if the owner ever chose to sell it. Years passed. The value of the island rose, far outpacing inflation. But the owner never elected to sell. Instead, he eventually conveyed the island...

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