Nupetco Associates v. Jenkins

DURHAM, Justice:

This appeal involves two cases which were consolidated and which arise out of transactions between the plaintiff Neuman C. Petty (hereafter “Petty”) in his capacity as an individual and/or as a controller of a business entity, and the defendant Lynn A. Jenkins (hereafter “Jenkins”). Both parties appeal the decision of the trial court. We affirm in part, reverse in part, and remand this case for further proceedings consistent with this opinion.

On October 12, 1972, Jenkins, a licensed real estate broker, obtained from Jackson Construction Co. an option to purchase 10 acres of…