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  5. 987 S.W.2d 933 (1999)
 

PHOENIX HOLDINGS, LTD. v. CIRCLE C LAND CORP.

No. 03-98-00185-CV.

987 S.W.2d 933 (1999)

PHOENIX HOLDINGS, LTD., Appellant, v. CIRCLE C LAND CORP., Appellee.

Court of Appeals of Texas, Austin.

Rehearing Overruled April 29, 1999.

Attorney(s) appearing for the Case

Eric J. Taube, Mitchel D. Savrick, Hohmann & Taube, L.L.P., Austin, for Appellant.

Roy Q. Minton, Minton, Burton, Foster & Collins, P.C., Austin, for Appellee.

Before Chief Justice ABOUSSIE, Justices KIDD and POWERS.

JOHN E. POWERS, Senior Justice (Retired).

Phoenix Holdings, Ltd., (Appellant) appeals from a judgment recovered by Circle C Land Corporation (Appellee) on its cause of action for declaratory judgment. We will affirm the judgment.

THE CONTROVERSY

Appellant agreed to buy and Appellee agreed to sell the latter's large real-estate holdings known as "Circle C Ranch Subdivision." They reduced their agreement to a written contract denominated "Purchase...

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