Corporate Property Associates 6 v. Hallwood Group Inc.

BERGER, Justice.

In this appeal, we consider whether disputed language in a letter agreement constitutes a general release of all claims. The trial court found the language, “[a]fter repayment of the Note, [appellee] will have no further obligation to the [appellants],” to be plain, unequivocal and global. We disagree. Given the fact that the letter agreement addressed only the early payoff of a note, we find that the contested language does not clearly act as a release of appellee’s other obligations under a different agreement. Because we find the language to be ambiguous, it must be…