United States Sixth Circuit

In a case involving the enforceability of a "gold clause" contained in a 1912 lease agreement, which required payment of rents to be in gold coins, a judgment against plaintiff-owner who tried to enforce the clause is reversed and remanded where: 1) contrary to the ruling below, the clause is enforceable; and 2) a remand was necessary for the district court to interpret the clause, to determine the obligation it imposes on the lessee, and to address any other defenses in the first instance, including lessee's estoppel-by-deed and waiver defenses.

Appellate Information

• Decided 08/27/2008
• Published 08/27/2008

Judges

• Before:  KEITH and SUTTON, Circuit Judges;  ACKERMAN, District Judge.

Court

• United States Sixth Circuit

Counsel

• For Appellees:
  
• ARGUED:  David H. Thompson, Cooper & Kirk, PLLC, Washington, D.C., for Appellant.  Gary Lee Walters, Thompson Hine, LLP, Cleveland, Ohio, for Appellee.   ON BRIEF:  David H. Thompson, Charles J. Cooper, Dean J. Sauer, Cooper & Kirk, PLLC, Washington, D.C., for Appellant.  Gary Lee Walters, Stephen D. Williger, Thompson Hine, LLP, Cleveland, Ohio, for Appellee.