These parties had an extensive history of dealing with each other and there was no evidence that Gulf States failed to exercise ordinary care in these dealings. The judgment of the trial court is affirmed. Board Member , Hyperdynamics Corporation. We first address the issue of rescission as an unpled issue. Gulf States also filed its own cross-appeal, arguing that the trial court erred in finding that no contract existed, and therefore Gulf States was not entitled to damages from the breach of such contract.
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Propriety of Rescission-Based Damages By its second issue, Omega argues that the trial court erred and abused its discretion in granting rescission damages to Gulf States. Thus, we conclude the trial court did not abuse its discretion in rescinding the contract as some evidence does reasonably support its decision.
By its second issue, Omega argues that the trial court erred and abused its discretion in granting rescission damages to Gulf States. If the trial court abuses its discretion in ordering rescission, the resulting judgment must be reversed.
Beaumontwrit denied. Kearby has served as a director of ZaZa since the Combination.
Gaston Kearby Mineral Rights | Corpus Christi, TX
To view Gaston L. Kearby ‘s Executive Work History. At this point a dispute arose between Gulf States and Omega regarding their remaining obligations to each other.
An appellate court reviews a judgment granting rescission for an abuse of discretion. With BoardEdge, you can: We’re working on making it happen.
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Therefore, because the claims raised by Gulf States in its pleadings could potentially be remedied by a judicial rescission of the contract, see Keearby, S. Kearby founded ZaZa with Messrs. Gulf States request for equitable remedies at trial, coupled with its insistence upon the propriety of those damages on appeal, prevents us from evaluating its claim for damages based on breach of contract.
Corpus Christino writ ; see also Tex. At trial, Gulf States representative acknowledged that the modification did not reflect his intent, implying that he gatson the contract by mistake, intending to agree to a gasston set of obligations. In its findings of fact and conclusions of law, the court determined that the parties had not agreed in the June modification that upon the signing of the Stanford Agreement, Gulf States was entitled to the Cody Lease without paying the remaining balance of the purchase price.
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Claims of fraud, if substantiated, will serve to vitiate a contract; rescission is a proper remedy that can be applied to a finding of fraud. Rescission of a contract is an equitable remedy used as a substitute for monetary damages when such damages would not be adequate. Log in Sign gasfon. More specifically, you’ll be able to: Amarillono pet.
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Gulf States, however, failed to comply with the requirements of appellate briefs by omitting a clear and concise argument for the contentions made, with appropriate citations to authorities and to the record concerning this issue. Sign up now to view Gaston L. However, Gulf States did assert claims for damages based on fraud and violations of the Deceptive Trade Practices Act.
CEOPrivateer Holdings. These parties had an extensive history of dealing with each other and there was no evidence that Gulf States failed to exercise ordinary care in these dealings. Board MemberHilltop Holdings Inc.
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The Stanford Agreement The following year, Omega sold a group of mineral leases to a third party, Stanford Petroleum, pursuant to a keaeby known as the Stanford Agreement. Thus, Gulf States has waived its right to our review of this issue. Gulf States then brought a breach of contract suit against Omega, alleging fraud, deceptive trade practices and conversion and demanding that Omega convey the Cody Lease to it without further payment.
However, Texas courts have traditionally construed pleadings liberally, and in the yaston of rescission specifically, at least one court has held that factual allegations in the petition, coupled with a prayer for general relief, are sufficient to support keatby decree granting rescission.
Chisos Joint Venture I, S. The trial court disagreed with this interpretation but nonetheless acknowledged that Gulf States had spent substantial amounts of time, effort and money in preparing the two Cody wells for production in anticipation of acquiring the lease and accordingly granted damages in rescission.