Posey v. Ford Motor Credit Co.
Idaho Court of Appeals
111 P.3d 162 (2005)
Gregory Posey (plaintiff) leased a truck from Ford Motor Credit Company (defendant). The lease, signed in January 2000, provided for a 48-month lease term and gave Posey the option to purchase the truck for a set price at the end of the term. Subsequently, Ford contacted Posey to tell him that the lease agreement was in error because the lease term should have been 36 months. On January 24, 2000, the parties signed a new lease agreement. This new agreement also stated that the lease term was 48 months. The parties did not realize this error when they signed the new lease agreement. On January 31, 2000, Ford sent Posey a letter stating that the new lease was also in error and purporting to unilaterally correct the lease term to 36 months. Posey made lease payments for 36 months and then attempted to exercise his option to purchase the truck. Ford refused, asserting that the lease term was 48 months. Posey sued Ford for breach of contract. The trial court granted Ford summary judgment based on the common law parol evidence rule. Posey appealed.
Rule of Law
Holding and Reasoning (Lansing, J.)
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