PRIME INCOME ASSET MANAGEMENT v. Tauzin

981 So. 2d 897, 2007 La.App. 3 Cir. 1380, 2008 La. App. LEXIS 925, 2008 WL 1891896
CourtLouisiana Court of Appeal
DecidedApril 30, 2008
Docket07-1380
StatusPublished
Cited by17 cases

This text of 981 So. 2d 897 (PRIME INCOME ASSET MANAGEMENT v. Tauzin) is published on Counsel Stack Legal Research, covering Louisiana Court of Appeal primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
PRIME INCOME ASSET MANAGEMENT v. Tauzin, 981 So. 2d 897, 2007 La.App. 3 Cir. 1380, 2008 La. App. LEXIS 925, 2008 WL 1891896 (La. Ct. App. 2008).

Opinion

981 So.2d 897 (2008)

PRIME INCOME ASSET MANAGEMENT, INC.
v.
Louis TAUZIN, et ux.

No. 07-1380.

Court of Appeal of Louisiana, Third Circuit.

April 30, 2008.

*898 Robert A. Kutcher, Nicole Sophia Tygier, Michael L. Cohen, Chopin, Wagar, Richard & Kutcher, LLP, Metarie, LA, for Plaintiff/Appellant, Prime Income Asset Management, Inc.

Theodore G. Edwards, Christopher S. Afeman, Davidson, Meaux, Sonnier & McElligott, Lafayette, LA, for Defendants/Appellees, Louis Tauzin, Claire Monet Tauzin.

Court composed of JIMMIE C. PETERS, ELIZABETH A. PICKETT and BILLY H. EZELL, Judges.

PETERS, J.

The plaintiff in this litigation, Prime Income Asset Management, Inc. (Prime Income), appeals the trial court's grant of a summary judgment dismissing its suit against the defendants, Louis Tauzin and Claire Montet Tauzin (the Tauzins). At issue is whether an expired written contract to buy and sell real property was orally amended to reinstate and amend the contract and establish a new closing date *899 for the contemplated sale. For the following reasons, we affirm the trial court's grant of the summary judgment.

DISCUSSION OF THE RECORD

This litigation arises from an attempt by Prime Income to purchase 21.5 acres of Lafayette Parish immovable property from the Tauzins. The parties had entered into a written purchase agreement dated May 19, 2006, wherein Prime Income agreed to purchase the 21.5 acres from the Tauzins on a per square foot basis. The purchase price was to be calculated at $2.12 per square foot, and the purchase agreement estimated the total price to be $1,985,464.80 based on the preliminary square foot calculation. The purchase agreement also set the initial closing date for the transfer of title as August 15, 2006.[1]

When the transfer of title did not take place on August 15, 2006, Prime Income sought and obtained extension of that deadline from the Tauzins. In fact, the closing date was extended twice pursuant to the requirements of Article XIII, Section 13.6 of the Purchase agreement.[2]

The first written amendment extended the closing date to September 15, 2006. This extension was needed because a zoning and platting contingency for a dedicated street required by the Lafayette Parish Planning Commission resulted in a reduction of the square footage contemplated by the sale.[3] In the written extension agreement, the Tauzins also recognized Prime Income's right to a $62,100.00 credit against the preliminary sale price because of the reduction of total square footage resulting from the public street contingency.

The September 15 deadline passed without the parties transferring title to the immovable property. The inability to complete the transfer before the deadline resulted in Prime Income's second written amendment extending the closing date. The request for an extension came in the form of an e-mail transmitted at 10:17 a.m. on October 30, 2006, from Mark Nardizzi, a realtor representing Prime Income, to the Tauzins' attorney. In the e-mail, Mr. Nardizzi stated that Prime Income was trying to "finish this up" and further stated that, "I assume the seller will allow this to close. Please advise." At 1:07 p.m. that same day, the Tauzins' attorney responded by an e-mail in which he agreed on behalf of his clients to a one-day extension. However, in granting the extension until October 31, the attorney further stated in that e-mail that "Seller will not allow a credit after Oct 31th [sic]. Contract is cancelled Nov 1st and must be renegotated [sic]. Clients may renegotiate. I suggest you call."

The transfer of title did not occur on October 31, 2006, either. Instead, Prime Income released the earnest money deposit of $50,000.00 to the Tauzins as liquidated damages.

Despite being fully aware that the Tauzins considered the purchase agreement to no longer be of any effect, Prime *900 Income continued to negotiate a purchase of the immovable property. In a faxed communication dated November 1, 2006, Mr. Nardizzi informed the Tauzins' attorney that if the Tauzins would agree to a new closing date of December 5, 2006, Prime Income would deposit an additional $50,000.00 in earnest money and would pay $250.00 per day as penalties from November 1, 2006, until closing. The Tauzins' attorney responded to Mr. Nardizzi's offer on the same day through a faxed letter, wherein he stated:

We are unable to make a decision this week. I am in the hospital undergoing chemotherapy. The offer is not in accordance with our previous demand and it will require additional consultation with my client, and I cannot do this until next week. Be advised I will not recommend it.

Six days later Prime Income submitted a written amendment to the purchase agreement, the content of which mirrored the terms of Mr. Nardizzi's November 1, 2006 proposal. The record contains no evidence to suggest that the Tauzins' attorney ever responded to this submission.

During their attorney's chemotherapy treatment, the Tauzins were contacted directly by Hank Gaines, another realtor representing Prime Income. After he contacted the Tauzins, Mr. Gaines informed Mr. Nardizzi that the Tauzins were agreeable to an extension to December 5, 2006. When Prime Income later became aware that the Tauzins had no intention of closing the transaction on December 5, 2006, it filed the instant suit seeking declaratory relief, specific performance, and damages. In its suit, Prime Income asserted that the Tauzins orally agreed to extend the closing date to December 5, 2006, by virtue of their conversations with Mr. Gaines on November 2, 2006. Based on the theories of equitable and promissory estoppel, Prime Income asserted that the Tauzins had waived their right to require a written extension as was required in the purchase agreement.

In their answer, the Tauzins denied that any extension, oral or otherwise, existed to extend the closing of the sale after the October 31, 2006 deadline. That defense comprises the basis for the Tauzins' motion for summary judgment. The Tauzins point out in their motion that the lack of a written agreement to extend the closing deadline beyond October 31, 2006, is not disputed. That being the case, they argue, they are entitled to a summary judgment as a matter of law.

The Tauzins supported their motion for summary judgment with their affidavits as well as the purchase agreement itself. In his affidavit, Mr. Tauzin acknowledged being contacted by Mr. Gaines on November 2, 2006, but denied making any "binding commitments for any extension." He further asserted that he specifically informed Mr. Gaines "that any requests for extension must be presented to" his attorney and that "[he] never agreed, verbally or otherwise, to extend the closing date for the sale contemplated by the purchase agreement beyond October 31, 2006." Mrs. Tauzin asserted in her affidavit that she never spoke to anyone representing Prime Income concerning an extension of the closing date, and that "[she] never agreed, verbally or otherwise, to extend the closing date for the sale contemplated by the purchase agreement beyond October 31, 2006."

In opposition to the motion for summary judgment, Prime Income submitted the affidavits of Mr. Gaines and Mr. Nardizzi. In his affidavit, Mr. Gaines asserted that he had separate telephone conversations with both Mr. and Mrs. Tauzin on November 2, 2006, and that both Mr. and Mrs. Tauzin agreed that the closing date had *901 been extended to December 5, 2006. According to Mr. Gaines, he questioned Mr.

Free access — add to your briefcase to read the full text and ask questions with AI

Related

Valentino v. Heart & Vascular Associates of Acadiana, P.C.
221 So. 3d 136 (Louisiana Court of Appeal, 2017)
Guillory v. Christus Health Central Louisiana
219 So. 3d 1115 (Louisiana Court of Appeal, 2017)
Coburn v. Dixon
190 So. 3d 816 (Louisiana Court of Appeal, 2016)
Marie M. Coburn v. Janis Dixon
Louisiana Court of Appeal, 2016
Teen Town Productions, L.L.C. v. Scurlock
182 So. 3d 1208 (Louisiana Court of Appeal, 2015)
Madison v. State, Department of Public Safety & Corrections
164 So. 3d 381 (Louisiana Court of Appeal, 2015)
Kevin Schmidt v. J-Lu Company Limited, L.L.
598 F. App'x 257 (Fifth Circuit, 2015)
Fox v. Shaw Group
106 So. 3d 200 (Louisiana Court of Appeal, 2012)
Louis Fox, Et Ux. v. the Shaw Group
Louisiana Court of Appeal, 2012
Raymond Alex, Sr. v. Bnsf Railway Company
Louisiana Court of Appeal, 2012
City of Alexandria v. Ratcliffe Construction Co., LLC
95 So. 3d 1076 (Louisiana Court of Appeal, 2012)
Gunter v. Jefferson Davis Parish
84 So. 3d 705 (Louisiana Court of Appeal, 2012)
LeCroy v. Byrd Regional Hospital
56 So. 3d 1167 (Louisiana Court of Appeal, 2011)
Sharon Lecroy v. Byrd Regional Hospital
Louisiana Court of Appeal, 2011
Stream Family Ltd. Partnership v. Marathon Oil Co.
27 So. 3d 354 (Louisiana Court of Appeal, 2009)

Cite This Page — Counsel Stack

Bluebook (online)
981 So. 2d 897, 2007 La.App. 3 Cir. 1380, 2008 La. App. LEXIS 925, 2008 WL 1891896, Counsel Stack Legal Research, https://law.counselstack.com/opinion/prime-income-asset-management-v-tauzin-lactapp-2008.