Nixon Properties, L.L.C. v. Graham

By Judge Victor V. Ludwig

Nixon Properties, L.L.C. (Nixon), entered into a commercial lease agreement (the Individual Agreement) with Hobert U. Graham, Jr. The Individual Agreement contemplated that Graham would lease certain property and operate a commercial business called Nannie’s Market, located in Troutville, Virginia, with an option to purchase both the property and the business on the conditions described in the Individual Agreement. Graham was to pay Nixon $2,000 per month, of which $500 was allocated as rent and $1,500 was allocated as a non-refundable deposit on the option to buy.

On…