Hants

Velma Church Clark (decedent) died testate on November 6, 1981. Her will was admitted to probate and on December 1, 1981, Jack Burford (Burford) was appointed executor. Letters testamentary issued the following day.

The crux of this appeal involves the fifth, sixth, and seventh paragraphs of the decedent’s will. Each paragraph granted claimant and respondent Jean Borderre a testamentary option to purchase certain real property. Although the will specified the purchase price for each parcel, it was silent as to the method and time for the exercise of the options.

In December 1981, Burford convened a meeting of the potential heirs and devisees, which was attended by Borderre. At the meeting the options granted to Borderre under the terms of the will were discussed. At that time, Borderre indicated he had not decided whether he would exercise the options.

*896 In March 1982, Burford resigned as executor and in early April 1982, David Hants (Hants), decedent’s grandson and a residuary devisee under the will, was appointed executor. 1 Later that month, Hants contacted Borderre to discuss Borderre’s intentions concerning the options. Because of potential tax consequences to…