Jones v. El Paso Natural Gas Products Company

PHILLIPS, Justice.

On August 12, 1958, J. W. Jones and wife, hereinafter called appellants, entered into a letter agreement with El Paso Natural Gas Company, which involved the sale of a wholesale and retail marketing business, including dealer contracts, intangible assets and good will which included a noncompetitive agreement on the part of appellants for a ten-year term. The sale included personal property, equipmént and inventory at the hulk plant, warehouse and filling stations. The letter agreement also gave El Paso the right to lease seven filling stations owned by appellants and a bulk…