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Unformatted text preview: to Toys stating that the lease had created a binding option. Burlington appealed claiming the option was too indefinite. Ct. of App. Whether the option agreement contains all material and essential terms to be incorporated in the subsequent document. Even though the option contract did not contain a fixed price at which the option could be exercised, there was a reliable method for calculating the price. All material and essential terms of an option agreement have to be set, or there must be a reliable method of determining any such terms stated in the contract for the option to be enforceable....
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- Spring '08
- Contract Law, rental rate, Option Agreement, Toys Inc