Blevins

May 17, 1915, defendants gave C. F. Adams a written option to purchase 2,988 acres of land, the greater part of which was in rice, together with water rights, pumping, and equipment, and rights of way. It appears that defendants owned a half section of the land and held the remainder under lease with agreement to purchase. They had in turn leased parts of the lands to tenant rice-growers. The option provided:

“We will convey to you clear title to all the above land, and transfer all rights, privileges, leases, etc., relating to the entire project for the net sum of $80.00 per acre, to be paid for the 2988 acres above described.

“Terms—$35,000 cash and the balance in six annual equal payments. The deferred payments to bear six per cent interest, or upon payment of $5000.00 we will agree to give possession of property on December 1, 1915. The further sum of $30,000.00 is to be paid on December 1, 1915, and the remainder in six equal payments with interest. The above option to purchase is not exclusive and is good for acceptance within 60 days, unless property is sold within this period to other parties.”

On the same day, by a separate writing, defendants gave Adams their promise…