Gibbons Ranches, LLC v. Bailey

A Landlord leased separate properties to two different sets of Tenants using nearly identical written documents. This appeal concerned a dispute between the Landlord and Tenants regarding whether the leases were enforceable for their stated five-year terms or whether a clause providing for “annual review of rental rates” resulted in unenforceable “agreements to agree.” The Landlord sued the Tenants in separate actions, seeking a declaratory judgment to determine its rights under the leases. The district court concluded that the leases were valid and enforceable for their five-year terms. The Supreme Court affirmed as modified, holding that the terms of the leases were clear and unambiguous and contemplated only an annual review without requiring an annual agreement. View "Gibbons Ranches, LLC v. Bailey" on Justia Law