K. Casey Youn and Chan S. Youn v. Emnora Hollister Realty Corp.

CourtCourt of Appeals of Texas
DecidedJuly 19, 2007
Docket01-06-00819-CV
StatusPublished

This text of K. Casey Youn and Chan S. Youn v. Emnora Hollister Realty Corp. (K. Casey Youn and Chan S. Youn v. Emnora Hollister Realty Corp.) 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
K. Casey Youn and Chan S. Youn v. Emnora Hollister Realty Corp., (Tex. Ct. App. 2007).

Opinion

Opinion issued July 19, 2007





In The

Court of Appeals

For The

First District of Texas



NO. 01-06-00819-CV



K. CASEY YOUN AND CHAN J. YOUN, Appellants



V.



EMNORA HOLLISTER REALTY CORP., Appellee



On Appeal from County Civil Court at Law No. 4

Harris County, Texas

Trial Court Cause No. 818248



MEMORANDUM OPINION



This is a dispute over earnest money that was deposited by appellants, K. Casey Youn and Chan J. Youn (collectively, "Youn"), in conjunction with a contract ("Contract") to purchase commercial real estate from appellee, Emnora Hollister Realty Corp. ("Emnora"). When Youn terminated the Contract, both parties claimed entitlement to the earnest money. After a bench trial, the trial court concluded that Youn had failed to timely terminate the Contract and ordered that Emnora recover the earnest money. The trial court issued findings of fact and conclusions of law.

In four issues that can be broken down into two arguments, (1) Youn challenges (1) the legal and factual sufficiency of the evidence to support the trial court's finding, and the propriety of the trial court's conclusion of law, that the parties did not modify the terms of the Contract (issues 1-3) and (2) the trial court's conclusion that Youn breached the Contract (issue 4).

We affirm.

Summary of Facts and Procedural History

On April 29, 2003, Youn contracted to purchase from Emnora the Emnora Hollister Business Park ("Property"), consisting of 33,000 square feet of office and warehouse space located on 1.47 acres in Houston, Texas, for the total sum of $680,000. Pursuant to the terms of the Contract, Youn deposited $10,000 in earnest money with Chicago Title Company. The date of closing was set for June 30, 2003. Emnora was represented in the transaction by a real estate broker, Jeffrey C. Barbles of Marcus & Millichap Real Estate Investment Brokerage Company.

Paragraph 7B(2) of the Contract provided that Youn had 30 days from the effective date of the Contract, which was April 29, 2003, to inspect the premises and to conduct an economic feasibility study. Paragraph 7B(3) permitted Youn to terminate the Contract for any reason within the 30-day period by providing written notice to Emnora. In addition, Paragraph 7B(3) provided that if Youn terminated the Contract under that provision, Youn was to receive a refund of the earnest money, less $100 to be retained by Emnora in consideration for the termination privilege. Furthermore, if Youn did not terminate the Contract within the time specified, Youn was deemed to have "accept[ed] the Property in its present 'as is' condition."

To allow Youn to conduct the feasibility study, Paragraph 7B(1) required Emnora to deliver certain items (2) to Youn within seven days after the effective date of the Contract. The Contract required Emnora to deliver these items "to the extent that the items are in [its] possession or are readily available to [Emnora]." Pursuant to the Contract, "[a]ny item not delivered is deemed not to be in [Emnora's] possession or readily available to [Emnora]."

Paragraph 22(C) provided that the Contract constituted the entire agreement of the parties and that the terms of the Contract could not be changed except in writing. In addition, Paragraph 23 provided that time was of the essence and that the parties agreed to strict compliance with the times for performance.

During the months of negotiations leading up to the execution of the Contract, Emnora provided to Youn certain items that were later included in the boilerplate enumerated list in Paragraph 7 of the Contract. On May 1, 2003, Emnora submitted to Youn certain other items from the enumerated list.

On May 23, 2003, Youn sent a complaint to Barbles that the rent roll submitted by Emnora was not accurate and that Youn had been unable to conduct the feasibility study. Youn asked Barbles to draft an amendment to the Contract providing that the feasibility period would be extended to run for "23 days after receiving accurate property information."

On May 27, 2003, two days before the original feasibility period was to expire, Barbles notified Youn by facsimile that Barbles had spoken with Emnora about Youn's concerns and that Barbles would "get the paperwork in the form of an addendum to extend the period necessary to get all the information together." However, the feasibility period expired on May 29, 2003 without an extension having been executed by the parties.

Throughout the month of June 2003, Youn and Barbles continued to exchange correspondence, and Emnora continued to provide various documentation. Barbles exchanged correspondence with Shu Mak, Youn's loan officer at Cathay Bank, and Vivien Wong, Mak's assistant, concerning the documentation required to process Youn's loan, and Emnora produced various documents to Cathay. In a letter from Mak to Barbles, dated June 20, 2003, Mak expressed an intent to close the loan as soon as possible. There is no further correspondence in the record dated subsequent to this letter and prior to June 30, 2003, the scheduled date for closing. The closing did not occur.

On July 10, 2003, Barbles and Youn visited the Property to inquire about alleged inaccuracies in the rent rolls. During the visit, Youn learned that one of the tenants, a marble-polishing operation, had created a potential environmental concern because it had been injecting grinding fluid into the ground. The next day, on July 11, 2003, Youn sent to Barbles written notice terminating the Contract and requesting the release of the earnest money. Thereafter, Emnora refused to release the earnest money.



On June 24, 2004, Youn sued Emnora for breach of contract, alleging that Emnora had failed to produce the feasibility documents within seven days after the effective date of the Contract, as required; that, although certain documents were provided subsequent to the seven-day deadline, those documents were incomplete and inaccurate; that Emnora had failed to disclose an environmental issue; and that Emnora had failed to refund the earnest money upon termination, as required in the Contract.

On October 28, 2004, Emnora failed to appear at trial, and the trial court rendered a default judgment, ordering that Youn was to recover the earnest money. On November 24, 2004, Emnora moved to set aside the default judgment on the basis of mistake, and the trial court granted the motion. On March 3, 2006, Emnora filed counterclaims against Youn, alleging that Youn had breached the Contract by failing to terminate as provided in the Contract and then failing to purchase the Property. Emnora sought the earnest money as damages.

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Bluebook (online)
K. Casey Youn and Chan S. Youn v. Emnora Hollister Realty Corp., Counsel Stack Legal Research, https://law.counselstack.com/opinion/k-casey-youn-and-chan-s-youn-v-emnora-hollister-re-texapp-2007.