August E. Waegemann, Barbara A. Waegemann, and Earl Tom Pyle v. Montgomery Ward & Company, Inc.
Court of Appeals for the Ninth Circuit
1Opinion of the Court
SNEED, Circuit Judge:
This is an appeal from a judgment of the district court, the jurisdiction of which was based on diversity, 28 U.S.C. § 1332, and which judgment denied a claim by lessors for rescission of a lease based on the doctrine of frustration. We affirm.
I
The appellants, August and Barbara Waegemann and Earl Tom Pyle, are owners of a shopping center in Watsonville, California. Montgomery Ward is their lessee. The lease, signed in 1969, provides for a ten-year term followed by two five-year options to renew. The base rent during the initial term was $16,703.00 per year. Clause 17 of…
2Cases cited10 opinions
- Lloyd v. MurphyCalifornia Supreme Court · 1944
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- McKesson Drug Co. v. MarcusCourt of Appeals for the Ninth Circuit · 1983
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