Kernrechtsfrage
Whether Z.'s 14 July 1999 declaration validly exercised the purchase option
Extrahierter Entscheid
The declaration was not a genuine exercise of the option; both parties understood it otherwise.
Extrahierte Begründung
The cantonal court's subjective interpretation based on evidence, especially later conduct and witness testimony, was not arbitrary. The wording alone did not override the proven actual intent.