Haslund v. Simon Property Group, Inc.
United States Court of Appeals for the Seventh Circuit
378 F.3d 653 (2004)
- Written by Sara Rhee, JD
Facts
In the late 1990s, Simon Property Group (SPG) (defendant) formed a subsidiary called clixnmortar.com. The president of the subsidiary approached Shannon Haslund (plaintiff) to be the vice president for operations. Haslund agreed to work for an annual salary of $175,000.00 plus 1% equity, with the structure of the equity to be determined at a future time. These terms were memorialized in a letter to Haslund from SPG. Haslund began working in 1999 but was never issued stock. Ten months after she began, Haslund was fired. The subsidiary ultimately did not earn a profit and was eventually dissolved. Haslund brought suit for breach of contract and was awarded $537,634.41 in damages. SPG appealed, arguing the provision of the contract relied on by Haslund was too indefinite to be enforceable.
Rule of Law
Issue
Holding and Reasoning (Posner, J.)
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