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A & M ENTERPRISES, INC. v. HUNZIKER

No. 12224.

482 P.2d 700 (1971)

25 Utah 2d 363

A & M ENTERPRISES, INC., a Utah corporation, Cleaning by Tony, Inc., a Utah corporation, Midwest Electric, Inc., a Utah corporation, and Gilmour Steel Corporation, a corporation, Plaintiffs and Appellants, v. Paul HUNZIKER, Barrett Investment Company, a Utah corporation, Solitude Recreation & Development, Inc., a Utah corporation, and Bob Barrett, Defendants and Respondents.

Supreme Court of Utah.

March 15, 1971.

Attorney(s) appearing for the Case

Lowell V. Summerhays of Summerhays, Klingle & Cohne, Robert D. Merrill of Van Cott, Bagley, Cornwall & McCarthy, Salt Lake City, for appellants.

Lee W. Hobbs, Salt Lake City, for respondents.

ELLETT, Justice:

Barrett Investment Company, hereafter called Barrett, owned a ski lift and gave an option to Western Lift and Crane Corporation, hereafter called Western, to purchase it for $2,000,000. The payments for 13 months were to be in the nature of option payments; and if $150,000 was paid during that period, then the option contract was to be a contract of sale. Upon failure to pay the $150,000 as agreed, certain rights and remedies were given to Barrett...

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