Rio Grande Oil Co. v. Upton Oil Co.

— On July 17th, 1926, Upton Oil Company, a corporation, hereinafter called plaintiff, entered into a written contract with Rio Grande Oil Company, a corporation, hereinafter called defendant, whereby the latter agreed to purchase from plaintiff certain of its assets within the state of Arizona for the sum of $87,500, and in addition thereto to purchase at cost all plaintiff’s merchandise on hand. The contract describing the property, so far as it is necessary to be stated for the purposes of this opinion, reads as follows:

“The property we offer and agree to purchase for this consideration is…