Daily Archives: Monday, December 24, 2018

Posted: December 24, 2018

Option Unenforceable Due to Unreasonable Delay in Exercising It

On December 12, 2018, the Second Department issued a decision in Breslin v. Frankel, 2018 NY Slip Op. 08456, holding that an option was unenforceable because of an unreasonable delay in exercising it, explaining: An option contract is an agreement, in exchange for consideration, to hold an offer open, thereby conferring upon the optionee the right... Read more »