Stephen L. Smith Missouri Cases

Stephen Smith appealed the circuit court's denial of his counterclaim for specific performance of an option agreement to purchase his sister's one-half interest in jointly held property. The circuit court found the agreement unenforceable due to lack of consideration, concluding Smith's promise was illusory and that other conveyances could not serve as consideration. The appellate court reversed and remanded, holding that the option agreement was supported by mutual promises and, alternatively, by the contemporaneously executed real estate conveyances as part of a single estate plan, making the agreement irrevocable.