Legal Opinion
Fay Corp. v. Bat Holdings I, Inc.
District Court, W.D. Washington
Decided October 23, 1986No. C86-542DPublishedCited by 22 opinions
1Opinion of the Court
MEMORANDUM DECISION AND ORDER
DIMMICK, District Judge.
Plaintiff, the Fay Corporation (“Fay”), and defendant, BAT Holdings I, Inc. (“BAT”), cross move for summary judgment. At issue is a 99-year lease containing a provision for payment in gold coin (a “gold clause”) originally executed by Fay as lessor in 1929. The Court concludes that a 1982 transfer of the lease to BAT created a new contract (a novation). Thus the gold clause, otherwise unenforceable under a 1933 statute, is revived and enforceable under a 1977 statute.
The parties agree that the issues before the Court can be determined as…
2Cases cited23 opinions
- Guaranty Trust Co. v. HenwoodSupreme Court of the United States · 1939
- Holyoke Water Power Co. v. American Writing Paper Co.Supreme Court of the United States · 1937
- Sans Souci v. DIVISION OF FLORIDA LAND, ETC.District Court of Appeal of Florida · 1982
- Sans Souci v. DIV. OF FLA. LAND SALES AND CONDOMINIUMSDistrict Court of Appeal of Florida · 1984
- Schrock v. GillinghamWashington Supreme Court · 1950
18 more not listed; retrieve them via the Exa API.
3Cited by22 opinions
- Wells Fargo Bank, N.A. v. Bank of America NT&SACalifornia Court of Appeal · 1995
- 216 Jamaica Avenue, LLC v. S & R Playhouse Realty Co.Court of Appeals for the Sixth Circuit · 2008
- Fay Corp. v. Bat Holdings I, Inc.District Court, W.D. Washington · 1987
- Jakobi v. Kings Creek Village Townhouse Ass'nDistrict Court of Appeal of Florida · 1995
- Nebel, Inc. v. Mid-City National BankAppellate Court of Illinois · 2002
17 more not listed; retrieve them via the Exa API.