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...
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