Legal Memorandum: Ambiguities in Option Agreements

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
Jurisdiction: Minnesota
Cited Cases: 140 N.W.2d 55
Cited Statutes: None
Date: 02/01/2001

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). 


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