From our private database of 35,800+ case briefs...
Preston Exploration Company, L.P. v. GSF, L.L.C. and Chesapeake Energy Corp.
United States Court of Appeals for the Fifth Circuit
669 F.3d 518 (5th Cir. 2012)
Preston Exploration Company, L.P. (Preston) (plaintiff) entered into three purchase and sale agreements (PSAs) selling oil and gas leases to Chesapeake Energy Corp. (Chesapeake) (defendant). The PSAs specifically incorporated by reference certain exhibits that contained descriptions of the oil and gas leases to be conveyed. The PSAs stated that the leases to be conveyed were those “that had marketable title and that would continue for at least a one year period after the effective date.” The PSAs contained provisions for curing title defects with respect to the leases and for reduction of the contract price in the event any title defects could not be cured. Chesapeake indicated that it would not close on the sales. Preston brought suit, seeking specific performance of the PSAs. Chesapeake claimed that the exhibits should not be incorporated into the PSAs, because the exhibits were not finalized. The trial court agreed, finding that the PSAs violated the statute of frauds because without finalized exhibits, they did not contain a sufficient description of the oil and gas leases to be conveyed. Preston appealed.
Rule of Law
Holding and Reasoning (Alvarez, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 620,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.Unlock this case briefRead our student testimonials
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.Learn about our approachRead more about Quimbee
Here's why 620,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 35,800 briefs, keyed to 984 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.