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ALEXANDER'S LAND COMPANY v. M & M & K

No. 26895.

390 S.C. 582 (2010)

703 S.E.2d 207

ALEXANDER'S LAND COMPANY, L.L.C., Alexander's Restaurant Company, Inc.; Franz Auer, John Peterson, Jr. and Bruce O. Rossmeyer, Plaintiffs, Of Whom Alexander's Land Company, L.L.C. and Alexander's Restaurant Company, Inc. are the Respondents, v. M & M & K Corporation, IFBIFB Corporation, and Roger Keyes, Defendants, Of Whom M & M & K Corporation and IFBIFB Corporation are the Petitioners.

Supreme Court of South Carolina.

Decided November 22, 2010.

Rehearing Denied January 19, 2011.

Attorney(s) appearing for the Case

Robert L. Widener , of McNair Law Firm, of Columbia, and Stephen Edward Carter , of McNair Law Firm, of Hilton Head Island, both for Petitioners.

C. Mitchell Brown , of Nelson, Mullins, Riley & Scarborough, of Columbia; I.S. Leevy Johnson , of Johnson, Toal & Battiste, of Columbia; and Richard A. Farrier, Jr. , Walter T. Cox, III , and Andrea St. Amand , all of Nelson, Mullins, Riley & Scarborough, of Charleston, for Respondents.

Justice BEATTY.

This dispute arose out of the attempted exercise of an option to purchase real property where a restaurant is situated. The trial court denied the buyer's request for specific performance of the option. The Court of Appeals held the buyer was entitled to specific performance, finding that, except for failing to meet a condition precedent, the buyer had properly exercised the option and thus the seller should have given the buyer notice of default and...

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