SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549



                                    FORM 8-K



                      CURRENT REPORT PURSUANT TO SECTION 13
                 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934


       DATE OF REPORT (date of earliest event reported): DECEMBER 1, 1997


                             Commission File Number
                                     0-16439


                      FAIR, ISAAC AND COMPANY, INCORPORATED
             (Exact name of registrant as specified in its charter)



           DELAWARE                                              94-1499887
(State or other jurisdiction of                               (I.R.S. Employer
 incorporation or organization)                              Identification No.)


              120 North Redwood Drive, San Rafael, California 94903
               (Address of principal executive offices) (Zip Code)

       Registrant's telephone number, including area code: (415) 472-2211





ITEM 5. Other Events

     On  December  1,  1997,  the  Company   exercised  an  option  to  purchase
undeveloped land in San Rafael,  California,  with the intention of constructing
an office  complex to  accommodate  future  growth.  The purchase price is $9.35
million plus certain costs  incurred by the seller as defined in the  agreement.
The consummation of the purchase is subject to a variety of closing  conditions,
including receipt of required government  approvals.  Development is expected to
commence in fiscal 1998 and will involve a material  capital  commitment  by the
Company.  The Company  intends to fund the  acquisition  and development of this
land  using  long-term  debt,  equity  or other  financing.  Excepting  external
financing of this capital  commitment,  the Company  believes  that the cash and
marketable  securities  on hand,  along with cash  expected to be  generated  by
operations,  will be adequate to meet its capital and  liquidity  needs for both
the current year and the foreseeable future.



                                   SIGNATURES


     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                                           FAIR, ISAAC AND COMPANY, INCORPORATED


DATE:   December 10, 1997



                                           By: /s/ PETER L. MCCORKELL
                                               ---------------------------------
                                                   Peter L. McCorkell
                                              Senior Vice President, Secretary
                                                   and General Counsel