An option agreement, in addition to granting the Grantee the option to acquire lands for a price of $240,000, provided that:
"[T]he Grantee agrees to pay to the Grantor $1,800,000 per month from May 18, 1973. This sum being 9% on $240,000. The said payments are to accumulate and be paid upon the exercising or expiry of the Option."
It was held that the monthly amounts of $1,800 were not interest to the Grantor "but merely the means of measurement of the increment to the purchase price payable to the plaintiff [Grantor] consequent upon the extension of the time to exercise the option or the delay in exercising that option."