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CERRITOS TRUCKING CO. v. UTAH VENTURE NO. 1

No. 17185.

645 P.2d 608 (1982)

CERRITOS TRUCKING CO., a California corporation, and Cerritos Trucking Co., Donald E. Heimark, James B. Fleming and William L. Fariester dba Cerritos Associates, a partnership, Plaintiffs and Respondents, v. UTAH VENTURE NO. 1, William J. Lowenberg, Fern E. Lowenberg, and Utah Development Company, Inc., a Utah corporation, Defendants and Appellants. UTAH DEVELOPMENT COMPANY, INC., a corporation and William J. Lowenberg, Cross-Plaintiffs and Appellants, v. BETTILYON REALTY COMPANY, a corporation, and Edmond O. Dunahoo, Cross-Defendants and Respondents.

Supreme Court of Utah.

March 18, 1982.

Attorney(s) appearing for the Case

Robert A. Peterson, Salt Lake City, for defendants and appellants.

Joseph C. Rust, Salt Lake City, for Dunahoo.

Gary A. Weston, Salt Lake City, for Bettilyon.

HOWE, Justice:

Plaintiffs Cerritos Trucking Co. and its successor in interest, Cerritos Associates, (Cerritos) brought this action for damages and for specific performance of an option to purchase real property. The defendants, William J. Lowenberg, Utah Venture No. 1, and Utah Development Company, Inc., sought rescission of the option, and damages from the plaintiffs and from the cross-defendants, Bettilyon Realty Company and

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