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Contracts Keyed to Ayres
Market Street Associates Limited Partnership v. Dale Frey
Citation:941 F .2d 588.
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- The Brief Prologue provides necessary case brief introductory information and includes:
- Topic: Identifies the topic of law and where this case fits within your course outline.
- Parties: Identifies the cast of characters involved in the case.
- Procedural Posture & History: Shares the case history with how lower courts have ruled on the matter.
- Case Key Terms, Acts, Doctrines, etc.: A case specific Legal Term Dictionary.
- Case Doctrines, Acts, Statutes, Amendments and Treatises: Identifies and Defines Legal Authority used in this case.
- The Case Brief is the complete case summarized and authored in the traditional Law School I.R.A.C. format. The Pro case brief includes:
- Brief Facts: A Synopsis of the Facts of the case.
- Rule of Law: Identifies the Legal Principle the Court used in deciding the case.
- Facts: What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case. Review the Facts of this case here:
J.C. Penney Company entered into a leaseback arrangement with General Pension Trust in order to finance J.C. Penney’s growth. Under the arrangement J.C. Penney sold properties to the pension trust which later leased the properties back to J.C. Penney for a term of 25 years. The contract stated that the lessee could request lessor to finance the costs and expenses of the additional improvements on the leased properties. The pension trust agreed to “give reasonable consideration to providing the financing of such additional improvement,” and both parties should be negotiating in good faith. The contract goes on to state that if negotiations over improvements broke down the lessee shall be entitled to repurchase the property at the price it was approximately sold to the Pension Trust in the first place, plus 6% for every year since. J.C. Penney assigned one of their leases, a shopping center, to the plaintiff. The plaintiff wanted to renovate the a store in the shopping center and began looking around for funding. The plaintiff decided to try and buy the property. An executive of the plaintiff called an executive of the defendant who was responsible for the property. The executive did not return the plaintiff’s calls. Eventually the executive of the defendant stated that they would sell the property for $3 million which the plaintiff said was too high. Later the plaintiff sent a letter to the defendant requesting funding for $2 million in improvements. The letter did not mention the lease, or the paragraph stating the option. The letter told the defendant’s representative to call the plaintiff’s representative. The defendant’s representative did not respond. The plaintiff sent another letter. The plaintiff finally received a letter from the defendant’s representative stating that the defendant did not make loans for less than $7 million. The plaintiff later sent a letter stating that they were exercising the option in the contract to buy the property. The defendant refused to sell the the plaintiff sued.
- Issue(s): Lists the Questions of Law that are raised by the Facts of the case.
- Holding: Shares the Court's answer to the legal questions raised in the issue.
- Concurring / Dissenting Opinions: Includes valuable concurring or dissenting opinions and their key points.
- Reasoning and Analysis: Identifies the chain of argument(s) which led the judges to rule as they did.
- The Brief Prologue closes the case brief with important forward-looking discussion and includes:
- Policy: Identifies the Policy if any that has been established by the case.
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