Opinion ID: 1354769
Heading Depth: 2
Heading Rank: 2

Heading: repurchase price

Text: Court of Appeals relies upon Linder v. Adcock , 250 S.C. 383, 158 S.E. (2d) 192 (1967), in which this Court held specific performance of a repurchase contract barred by laches. Critical to the decision in Linder was a provision that the property, upon exercise of the option, could be repurchased at its original price. The optionee, waiting nine years, during which the value of the property had substantially appreciated, sought to repurchase at the property's original value. The Court, understandably, held this inequitable and impermissible. Here, there is no such inequity, so that Linder is distinguished. It is to be noted that Petitioners will reap no windfall in exercising the option: they must pay to Wall current market value for the property.