United States Eighth Circuit

In a suit brought against a regional airline seeking expectancy damages for its breach of a "Term Sheet" agreement to sublease twenty used aircraft from plaintiff, summary judgment for defendant is affirmed where New York law prohibits the transformation of a binding preliminary agreement, such as the Term Sheet, to negotiate for a contract into the contract itself. Consequently, expectancy damages may not be recovered in this case.

Appellate Information

• Decided 03/04/2008
• Published 03/04/2008

Judges

• LOKEN, Chief Judge., Before LOKEN, Chief Judge, GRUENDER and BENTON, Circuit Judges.

Court

• United States Eighth Circuit

Counsel

• For Appellant:
  
• Thomas H. Boyd, argued, Brooks F. Poley and David M. Aafedt, on the brief, Minneapolis, MN, for appellant.


• For Appellees:
  
• John M. Baker, argued, Andrew M. Luger, on the brief, Minneapolis, MN, for appellee.