Issue: Under the laws of the state of Minnesota, is the recitation of payment of consideration in an agreement construed against the drafter of an option agreement?
|Area of Law:||Business Organizations & Contracts|
|Keywords:||Valid option agreement; Payment of valuable consideration; Contrued against drafter|
|Cited Cases:||140 N.W.2d 55|
Arguable the term "for valuable consideration" in an agreement can be seen as “vague;” however, where the option agreement was drafted by the party making that argument, any ambiguities the agreement contains must be construed against them. Koch v. Han-Shire Inv., Inc., 273 Minn. 155, 140 N.W.2d 55, 63 (1966); Untiedt v. Grand Labs., Inc., 552 N.W.2d 571, 574 (Minn. Ct. App. 1996), review denied, (Minn. Oct. 15, 1996).