Frost National Bank v. L & F Distributors, Ltd.

This case involves the interpretation of a term equipment-lease agreement with a purchase option provision. The lessee attempted to exercise the purchase option and buy the equipment a little over a year into the five-year lease term, but the lessor refused, contending that the contract only allowed the lessee to purchase the equipment when the lease term ended. The trial court and the court of appeals agreed with the lessee’s interpretation, but we agree with the lessor’s. Accordingly, we reverse the court of appeals’ judgment, render judgment in part for the lessor, and remand the case to…