JR Stone Co., Inc. v. Keate

CROCKETT, Justice:

The controversy here arises from a lease and option to purchase a business property granted by plaintiff Stone Co. to defendant Raymond S. Keate in which the latter operated Fiber Glass Products Inc. 1 The trial court found in accordance with plaintiff’s contention that the defendant’s attempt to exercise the option to purchase was abortive, but ruled against its contention that the option is void and unenforceable. Plaintiff appeals.

In January 1971, the defendant Keate contacted Attorney Gerald R. Turner to get help in his plan to raise money to build a new plant and obtain…