Stacks v. Jones

Tom Glaze, Justice.

On July 20, 1990, the appellees, Randy and Rita Jones, leased a feed mill business from Mountaire Feeds, Inc., for five years. The lease contained an option to renew for an additional five years at the end of the primary term. During the primary term, appellant John Stacks entered into negotiations to purchase the mill from Mountaire, and those negotiations culminated in a sale on August 14, 1992. At that time, Mountaire assigned the Joneses’ lease to Stacks. Significantly, a wind storm had damaged the fertilizer and seed storage bins on the leased property only four days…