Packer v. Donaldson

CASE, Judge.

This is an appeal from a judgment of the trial court, sitting without a jury, in favor of defendants-appellecs and against plaintiffs-appellants.

Prior to 3 March 1962, Penguin Motor Hotel, Inc., an Arizona corporation (hereinafter referred to as Penguin), was formed with thirteen original incorporators. The corporation, with the intention of establishing a motel thereon, obtained real estate leases on certain real property located in Dona Ana County, New Mexico, from Anthony A. and Margaret K. Standish and Sigurd and Virginia Johansen. The Standishes were two of the thirteen…