Tyler , no writ. On November 14, one day before performance was due, Gulf States again notified Omega that it would be unable to comply. See Butnaru, 84 S. At trial, Gulf States representative acknowledged that the modification did not reflect his intent, implying that he signed the contract by mistake, intending to agree to a different set of obligations. We first address the issue of rescission as an unpled issue.
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Receive free daily summaries of new opinions from the Supreme Court of Texas. Rescission as a Remedy We first address the issue of rescission as an unpled issue. In Februarythe parties entered into another modification for the purchase of the lease. Kearby has served as a director of ZaZa since the Combination.
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Over time, his business expanded to include capping, salvaging and reselling drilling pipe reclaimed from unproducti The trial court also found that no issue had been tried by consent of the parties.
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.
The court characterized this as rescission damages because it would be inequitable for Gulf States to have paid this money having not been able to fulfill the terms of the contract to purchase the Cody Lease.
Log in Sign up. We have concluded that rescission was available as a potential remedy; we now must determine whether the granting of rescission was proper in these circumstances.
Gulf States agreed to handle the workover on the wells solely at its own expense and using its best efforts to establish production. Omega objected to the request for rescission as it had not been raised karby an issue in the pleadings.
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Gulf States requested rescission because of its unilateral mistake regarding the contents and gastln of the contract – specifically, the June modification. At this point a dispute arose between Gulf States and Omega regarding their remaining obligations to each other. Thus, we conclude the trial court did not abuse its discretion in rescinding the contract as some evidence does reasonably support its decision.
Rescission has also been found to be a proper remedy for claims based on the Deceptive Trade Practices Act. If the trial court abuses its discretion in ordering rescission, the resulting faston must be agston. At trial, Gulf States argued that the June contract modification was intended to provide that upon the closing of the Stanford Agreement, Gulf States was entitled to assume the Cody Lease without further payment to Omega.
Thus, Gulf States has waived its right to our review of this issue. Based on the existence of this undisputed contract, Gulf States insists it is entitled to damages. 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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keadby This mistake clearly relates to a material feature of the contract, i. Kearby began his career in the oil and gas industry inbuying and selling drilling pipe to oil well operators in south Texas.
This case stems from a dispute over a contract to purchase a mineral lease. Brooks and Hearn to pursue opportunities in the emerging Eagle Ford shale and elsewhere. Amarillono pet.
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Kearby’s complete kerby work history, sign up now. Please enter valid email address. Nat l Gas Co. 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.
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The following year, Omega sold a group of mineral leases to a third party, Stanford Petroleum, pursuant to a contract known as the Stanford Agreement. Thank you for your interest. The trial court s order rescinding the contract attempted to place the parties back in status quo by returning to each the property that would not have been expended or lost by either party had there never been such a modification of the contract. 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.