Homer H. Jackson, Jr. v. Michael W. Henderson

CourtCourt of Appeals of Texas
DecidedJuly 22, 2004
Docket01-03-00843-CV
StatusPublished

This text of Homer H. Jackson, Jr. v. Michael W. Henderson (Homer H. Jackson, Jr. v. Michael W. Henderson) is published on Counsel Stack Legal Research, covering Court of Appeals of Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Homer H. Jackson, Jr. v. Michael W. Henderson, (Tex. Ct. App. 2004).

Opinion

Opinion issued July 22, 2004





In The

Court of Appeals

For The

First District of Texas


NO. 01-03-00843-CV

____________

HOMER H. JACKSON JR., Appellant

V.

MICHAEL W. HENDERSON, Appellee


On Appeal from the 165th District Court

Harris County, Texas

Trial Court Cause No. 2000-04190


MEMORANDUM OPINION

          Appellant, Homer H. Jackson Jr. (Jackson), challenges the trial court’s judgment, rendered following a bench trial, in favor of appellee, Michael W. Henderson (Henderson), in Henderson’s suit for breach of contract, fraudulent inducement, and negligent misrepresentation. In six issues, Jackson contends that (1) Henderson had no viable cause of action against him, (2) the evidence was legally and factually insufficient to show that “Henderson suffered any loss caused by him,” (3) the trial court erred in basing its damage award upon a “mere anticipated sale,” (4) Henderson’s contract and tort claims were barred by the applicable statutes of limitations, (5) the evidence was legally and factually insufficient to support the trial court’s finding that Jackson had committed fraud, and (6) the evidence was factually insufficient to support the trial court’s damage award.

          We reverse the judgment of the trial court, and we render judgment that Henderson take nothing by way of his suit.

Facts

          On August 6, 1974, 22 venturers executed a joint venture agreement (the original venture agreement) creating Landmark 80 Venture (Landmark Venture), a Texas joint venture, for the purpose of acquiring, developing, and then selling an 80-acre tract of land located in Fort Bend County. The original venture agreement provided that Landmark Venture would exist for a period of 25 years and would expire on April 30, 1999. It also provided that Landmark Equities Investment and Management Corporation (Landmark Corp.) had “the exclusive right to sell, lease or otherwise dispose of all or any part of the [tract]” and that, upon the sale of the tract, Landmark Venture would pay Landmark Corp. 10 percent of any net profit realized from the sale and six percent of the purchase price as a real estate commission.

          On October 11, 1974, Jackson, as president of Landmark Corp., assigned to Henderson a “7.625” percent interest in Landmark Corp.’s right to receive 10 percent of any net profit realized from the sale of the tract.

          On February 22, 1982, Landmark Corp. forfeited its corporate charter by failing to pay past due franchise taxes. Thereafter, on June 1, 1982, Jackson, acting individually and on behalf of Landmark Corp., assigned to Henderson a 20 percent interest both in Landmark Corp.’s right to receive 10 percent of any net profit realized from the sale of the tract and its right to receive six percent of the purchase price as a real estate commission. In consideration thereof, Henderson assigned all of the stock that he owned in Landmark Corp. to Jackson. The written assignment agreement provided that Jackson had a duty to notify Henderson of any “event of default, bankruptcy, or other legal proceedings, actions or events” that would jeopardize Landmark Corp.’s “interest or rights with respect to” Landmark Venture. At the time of the assignment, Henderson, although an officer of Landmark Corp., did not know that the corporation had forfeited its charter.

          On April 20, 1999, as Landmark Venture was about to expire, the venturers executed an amendment to and ratification of the original venture agreement (the new venture agreement). The new venture agreement provided that Landmark Venture would continue to exist for another 10 years. Moreover, it contained a provision that specifically “delete[d] Paragraphs 2.002c and 2.002d,” which were the provisions of the original venture agreement providing that Landmark Corp. had “the exclusive right to sell, lease or otherwise dispose of” the tract and that Landmark Venture, upon the sale of the tract, would pay Landmark Corp. 10 percent of any net profit realized from the sale and six percent of the purchase price as a real estate commission. Additionally, the new venture agreement contained a provision specifying that the original venture agreement “as hereby amended is hereby ratified and reaffirmed.”

          On January 31, 2000, in anticipation of a sale of the tract, Henderson filed suit against Landmark Venture, the individual venturers, Landmark Corp., and Jackson seeking a declaration that Henderson was entitled to receive his assigned compensation upon the sale’s occurrence. Thereafter, on June 29, 2001, Henderson amended his pleadings to allege specific claims against Jackson arising out of the June 1, 1982 assignment, seeking “to recover from Jackson the amount [Henderson] would have been owed by the Venture if the June 1, 1982, assignment was enforceable against the Venture.” Specifically, Henderson alleged that Jackson (1) had fraudulently induced him to enter into the assignment because Jackson had failed to disclose that Landmark Corp. had forfeited its charter, (2) engaged in negligent misrepresentation because Jackson had failed to disclose that Landmark Corp. had forfeited its charter, and (3) breached a contractual duty to him because Jackson had failed to notify him, following the assignment, that Landmark Corp. had forfeited its charter. Henderson subsequently settled with Landmark Venture and the individual venturers and non-suited them from the case. However, Henderson did not settle with Jackson, and the case proceeded to trial.

          Following trial, the trial court rendered judgment in favor of Henderson and awarded him $12,042.50 in damages and $4,250 in attorney’s fees. Moreover, in its findings of fact and conclusions of law, the trial court found that (1) Jackson fraudulently induced Henderson to enter into the assignment on June 1, 1982 because Jackson knew that Landmark Corp. had forfeited its charter and he had failed to disclose that fact to Henderson, (2) Jackson “breached the contract he entered into on June 1, 1982,” and (3) because of Jackson’s breach of contract and fraudulent inducement, Henderson had suffered actual damages in the amount of $12,042.50.

Fraudulent Inducement

          In his fifth issue, Jackson argues that the evidence was legally and factually insufficient to support the trial court’s finding that he fraudulently induced Henderson to enter into the June 1, 1982 assignment.

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Homer H. Jackson, Jr. v. Michael W. Henderson, Counsel Stack Legal Research, https://law.counselstack.com/opinion/homer-h-jackson-jr-v-michael-w-henderson-texapp-2004.