Legal Opinion
Possis Corp. v. Continental MacHines, Inc.
Court of Appeals of Minnesota
Decided June 7, 1988No. C1-88-56PublishedCited by 1 opinion
1Opinion of the Court
OPINION
EDWARD D. MULALLY, Acting Judge.
Appellant Continental Machines, Inc. (CMI) and respondent Possis Corporation (Possis) agreed in May 1985 to form Jet Edge Corporation (Jet Edge) to commercially develop manufacturing technology owned by Possis. As part of the agreement, Possis granted Jet Edge a license to use the technology and an option to purchase it.
The key issue is whether the Jet Edge board effectively exercised the purchase option. CMI contends that Jet Edge exercised the option. Possis contends that Jet Edge did not exercise the option, and that ownership of the technology…
2Cases cited8 opinions
- Tuma v. Commissioner of Economic SecuritySupreme Court of Minnesota · 1986
- Nadeau v. Austin Mutual Insurance Co.Supreme Court of Minnesota · 1984
- Kellerman v. City of St. PaulSupreme Court of Minnesota · 1941
- Krumm v. R. A. Nadeau Co.Supreme Court of Minnesota · 1979
- Westgor v. GrimmSupreme Court of Minnesota · 1982
3 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Carlson v. Allstate Insurance Co.Court of Appeals of Minnesota · 2007