Farrell v. Evans

EVANS, Justice.

This appeal involves the assignability of an option to purchase granted by the terms of a lease contract.

In December, 1966, B. F. Farrell and his wife, Alta Lou Farrell, as lessors, entered into written lease agreement with Texas Truck and Tractor, Inc., as lessee, covering the lessor’s property for a five year term. The lease provided that the lessee had an option to renew for an additional five year period and also granted an option to purchase the leased premises which could be exercised during the renewal term. Texas Truck and Tractor, Inc., exercised the renewal option and…