A & M Enterprises, Inc. v. Hunziker

ELLETT, Justice:

Barrett Investment Company, hereafter called Barrett, owned a ski lift and gave an option to Western Lift and Crane Corporation, hereafter called Western, to purchase it for $2,000,000. The payments for 13 months were to be in the nature of option payments; and if $150,000 was paid during that period, then the option contract was to be a contract of sale. Upon failure to pay the $150,000 as agreed, certain rights and remedies were given to Barrett which, among others, included a right to forfeit the payments theretofore made. In the meantime Western took possession of the lift…