Gates Rubber Co. V. Ulman

Appellant Gates Rubber Company appeals from a judgment which denied appellant specific performance of an unrecorded option agreement giving it the right to purchase certain property in the 20th year of a 25-year lease of that property from a predecessor-in-interest of Charles Ulman. The term of the lease commenced in 1963. Charles Ulman purchased the property in 1969. Appellant attempted to exercise the option in 1983. Respondents Harry R. Ulman and his wife Gisela Ulman are cotrustees of the testamentary trust established under the will of the late Charles Ulman,  Harry Ulman's father.