HOLDINGS: [1]-A lessee was entitled to an

HOLDINGS: [1]-A lessee was entitled to an

HOLDINGS: [1]-A lessee was entitled to an offset for the rents it paid to the lessor after it exercised its purchase option under the parties’ lease and during the pendency of its action for specific performance because, upon the lessee’s valid exercise of the option, the lease was transformed into a contract of sale, thereby extinguishing any landlord-tenant relationship, as well as any right the lessor had to further rent; [2]-Although the lessee was entitled to a credit to offset of the rents it paid during the period between when the transaction reasonably should have been completed and when the judgment was entered, the lessor was entitled to some amount of compensation to account for the fact that it did not have use of the purchase funds it would have had in its possession from the time the purchase and sale contract reasonably should have been performed to the entry of judgment.

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Judgment reversed.

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HOLDINGS: [1]-Allegations of waiver and estoppel were sufficient to withstand an insurer’s demurrer because a deceased county employee who had paid premiums for a supplemental life insurance benefit while on