John Wood Group USA, Inc. v. Ico, Inc.

OPINION

MICHAEL H. SCHNEIDER, Chief Justice.

The issue in this case is whether a letter agreement for the sale of millions of dollars worth of corporate assets, which stated that the essential terms of the proposed sale were “not binding,” was unambiguous and nonbinding as a matter of law, or whether it presented a jury question on the issue of the parties’ intent to be bound. Because we hold that there was no binding sale agreement as a matter of law, we reverse the judgment on appellee’s claim for breach of a sale agreement and remand its claim for liquidated damages for further proceedings.

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