Phillips v. Mercer

OPINION

This appeal is from a judgment requiring appellant to pay respondent fifty percent (50%) of the net profits to be derived from the future sale of the Sundance Lodge, and also awarding respondent a money judgment and court costs totaling $2,912.52 over and above appellant’s counterclaims.

In 1973 respondent, Charles Mercer, leased and operated a business known as the Sundance Lodge. Mercer also held an option to purchase the lodge from Bonanza Laboratories, Inc. In August, 1973, Mercer granted appellant, Leon Phillips, the right to exercise his option in exchange for an oral promise to…