Citicorp of North America, Inc. v. Lifestyle Communications Corp.

MEMORANDUM OPINION AND ORDER

BENNETT, United States Magistrate Judge.

TABLE OF CONTENTS

I. INTRODUCTION AND BACKGROUND 647

II. FINDINGS OF FACT 648

A TTLcj "PcivHacj 648

B.’ Radio Equipment for KJJC-FM 648

C. Asher and Citicorp 650

D. The Lease Transaction 651

E. Lease Provisions 654

III. CONCLUSIONS OF LAW 655

A. Law to Be Applied 655

B. Citicorp’s Claims Against Lifestyle 655

1. Hell or High Water Provision of the Master Lease 655

2. Waiver of Defense Clause 657

C. Lifestyle’s Specific Defenses 658

1. The Close Connection Doctrine 658

2. Consideration 660

3. Title to the Transmitter 661

4. Condition Precedent…