Contract Unambiguously Excluded Environmental Liabilities From Fair Market Value

Business Valuation UpdateVol. 9 No. 10
Legal and Court Case Update
October 2003

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4612 Crude Petroleum Pipelines
486110 Pipeline Transportation of Crude Oil
contract
fair market value (FMV), asset sale, stock purchase agreement
RJE Corp. v. Northville Indus. Corp
2003 U.S. App. LEXIS 9414
May 15, 2003
US
Federal Court
2nd Circuit
United States Court of Appeals
Per Curiam

Summary

The issue on appeal was the meaning of the term "fair market value" in an abandonment provision of an option agreement.

See Also

RJE Corp. v. Northville Indus. Corp.

Full Text of Court Cases
May 15, 2003

The issue was the meaning of the term "fair market value" in an abandonment provision of an option agreement and whether it excluded potential environmental liabilities.