McElroy v. General Texas Asphalt Company

OPINION

WILSON, Justice.

The owners of an asphalt distributor, appellants-plaintiffs, delivered it to a road contractor, appellee-defendant, under a lease-purchase option agreement. While being used by defendant it was damaged by fire. Plaintiffs sued for rentals, and alternatively for the contract price, contending defendant had by its conduct exercised the option to purchase. Alternatively they sued for the market value of the equipment, alleging conversion; and further in the alternative, for damages to the equipment alleged to have been proximately caused by negligence of defendant as…