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CRANETEX, INC. v. MOUNTAIN DEVELOP. CORP.

No. 16863.

738 P.2d 123 (1987)

CRANETEX, INC., a Texas corporation which is a wholly-owned subsidiary of Harnischfeger Corp., a Delaware corporation, plaintiff-appellee, v. MOUNTAIN DEVELOPMENT CORPORATION, a New Mexico corporation, Defendant-Appellant.

Supreme Court of New Mexico.

June 16, 1987.

Attorney(s) appearing for the Case

Doerr & Knudson, Randy Knudson, Portales, for defendant-appellant.

Robert Brack, Clovis, for plaintiff-appellee.

OPINION

WALTERS, Justice.

Defendant-appellant Mountain Development Corporation (MDC) entered into two lease-option-to-purchase contracts with Petro-Lift. Petro-Lift is not a party to this appeal. The first lease involved an eighteen-ton crane, and the lease expired on March 1, 1985. The second lease involved a twenty-ton crane, and that lease expired on March 15, 1985.

The terms and conditions of the option to purchase were primarily oral agreements...

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