law-purchase-option-contract | right of first refusal
OPTION TO PURCHASE PROPERTY (LEASE)
Based on the evidence, Gulf Coast Concrete conclusively established that it exercised the purchase
option in section 15.01 according to the lease terms before expiration of the Option Deadline. See
Sinclair Refining Co., 147 Tex. at 472, 218 S.W.2d at 187 (providing that once lessee delivered
notice of election to exercise purchase option, the act established the relationship of vendor and
purchaser between the parties); see also Comeaux, 93 S.W.3d at 220 (providing that in order for an
option to ripen into an enforceable contract of sale, the holder of the option must manifest
unambiguous acceptance in strict accordance with the terms of the lease agreement). Gulf Coast
Concrete's motion and summary-judgment evidence facially established its right to judgment as a
matter of law. See, e.g., Comeaux, 93 S.W.3d at 223 (affirming summary judgment).
Durrett Development, Inc. v. Gulf Coast Concrete, LLC (Tex.App.- Houston [14th Dist.] Aug. 27,
2009) (Frost)
(Tex.App.- Houston [14th Dist.] Aug. 27, 2009) (Frost)(real estate transaction, lease law, lease with
purchase option, right of first refusal, declaratory judgment)
AFFIRMED: Opinion by Justice Frost
Before Justices Frost, Brown and Boyce
14-07-01062-CV Durrett Development, Inc. v. Gulf Coast Concrete, LLC
Appeal from 23rd District Court of Brazoria County
Trial Court Judge: BEN HARDIN