Sprucewood Investment Corp. v. Alaska Housing Finance Corp.

OPINION

MATTHEWS, Justice.

I. INTRODUCTION

The main question presented in this case is how to interpret a "demolition" contract. In isolation, the contract might be interpreted to permit the removal and sale of buildings, but at the time the contract was made, both parties actually believed that it required the buildings' destruction. Because a contract is interpreted in accordance with the parties' intent at the time of contracting, we conclude that the demolition contract required the buildings' actual destruction.

II, FACTS AND PROCEEDINGS

In early 1997 Alaska Housing Finance Corporation…