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White/Reach Brannon Rd., LLC v. Rite Aid of Kentucky, Inc., 488 S.W.3d 631 (2016)

Citation
White/Reach Brannon Rd., LLC v. Rite Aid of Kentucky, Inc., 488 S.W.3d 631 (2016)
Parent Document
White/Reach Brannon Rd., LLC v. Rite Aid of Kentucky, Inc., 488 S.W.3d 631 (2016)
Jurisdiction
Kentucky (state)
Effective Date
2016-04-29
Original Source
https://www.courtlistener.com/opinion/5446736/whitereach-brannon-rd-llc-v-rit... ↗

Other Sections in This Document (46)

Full Text

946 chars 
•Regarding whether the parties intended to enter into a new contract with the signing of the Purchase Agreement, the best evidence of what parties to a contract intended is what they do or stop doing after the contract is signed. First, White/Reach was unable to perform its material obligations under the Lease because it lacked construction financing to build the new store. Second, White/Reach made no effort to construct the building during the thirteen months after Rite Aid placed $2.46 million in escrow. Rite Aid, on the other hand, fulfilled its contractual duties under the Purchase Agreement when it deposited the full purchase amount into escrow. These facts demonstrate that White/Reach believed it was no longer obligated to build the store and that Rite Aid was willing to purchase the land without a building. Therefore, the proposition that the Purchase Agreement was a novation to the Lease is supported by the parties’ actions.