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Remedies Keyed to Kovacic-Fleischer, 8th
Brush Grocery Kart, Inc. v. Sure Fine Market, Inc.
Citation:
47 P.3d 680 (2002)Facts
In October 1992, Brush Grocery Kart, Inc. and Sure Fine Market, Inc. entered into a five-year lease with an option to purchase real property including a building operated as a grocery store. The option allowed Brush to purchase during the last six months of the lease at a price equal to the average of appraisals from experts designated by each party. Before the lease expired, Brush exercised its option to purchase, but the parties could not agree on a final price. Brush vacated the premises, returned all keys to Sure Fine, discontinued its casualty insurance, and filed suit alleging Sure Fine failed to negotiate in good faith, requesting appointment of a special master to determine the purchase price. During litigation over the price term, a hailstorm substantially damaged the property. Neither party carried casualty insurance, and each asserted the other was liable for the $60,000 stipulated damage amount.
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