GASTON KEARBY DRIVER

Rescission of a contract is an equitable remedy used as a substitute for monetary damages when such damages would not be adequate. We overrule Omega s second issue on appeal, and affirm the judgment of the trial court insofar as damages were granted on the basis of rescission. Omega s first issue is accordingly overruled. Kearby founded Omega Energy Corp. Thus, we conclude the trial court did not abuse its discretion in rescinding the contract as some evidence does reasonably support its decision. Over time, his business expanded to include capping, salvaging and reselling drilling pipe reclaimed from unproducti

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Gaston L. Kearby - Executive Bio, Work History, and Contacts - Equilar BoardEdge

Omega appealed the decision to this court, arguing that the trial court erred in entering judgment in favor of Gulf States. El Pasono pet. Please enter valid email address. Conclusion We overrule both Omega s issues on appeal and Gulf States issue on cross-appeal.

Gulf States failed to comply with the provisions of the February modification, and again negotiated a new modification of the contract with Omega in June These parties had an extensive history of dealing with each other and there was no evidence that Gulf States failed to exercise ordinary care in these dealings. Furthermore, when the claims and defenses raised are those which contemplate a particular remedy, a party may be entitled to that particular remedy despite a failure to specifically plead for such relief.

This agreement did not include the Cody Lease. This mistake clearly relates to a material feature of the contract, i. Thus, we conclude the trial court did not abuse its discretion in rescinding the contract as some evidence does reasonably support its decision. Rescission as a Remedy Ekarby first address the issue of rescission as an unpled issue. Propriety of Rescission-Based Damages By its second issue, Omega kearrby that the trial court erred and abused its discretion in granting rescission damages to Gulf States.

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Kearby's complete executive work history, sign up now. At this point a dispute arose between Gulf States and Omega regarding their remaining obligations to each other. The trial court also found that no issue had been tried by consent of the parties. A trial court must weigh several factors to determine if rescission should be granted, including probability of irreparable damage to the moving party, possibility of harm to the nonmoving party, and public interest.

However, Gulf States did assert claims for damages based gastno fraud and violations of the Deceptive Trade Practices Act.

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Over time, his business expanded to include capping, salvaging and reselling drilling pipe reclaimed from gasfon wells, as well as purchasing and operating existing wells. Amarillono pet. By accessing BoardEdge, you can view bios, network, connections and references of industry leading executives like Gaston L.

Dallaswrit ref d n. The parties again modified the agreement and delayed the date of the original payment to November 20, although the entire purchase stillwas to be made by December Gulf States maintained that the June modification included a provision that entitled Gulf States to assume the Cody Lease without further payment to Omega once the Stanford Agreement was finalized, due to Gulf States assistance of Omega in procuring the buyer for the properties involved in the Stanford Agreement.

Kearby has served as a director of ZaZa since the Combination. We overrule Omega s second issue on appeal, and affirm the judgment of the trial court insofar as damages were granted on the basis of rescission. Gulf States, however, failed to comply with the requirements of appellate briefs by omitting a clear and concise argument for the kdarby made, with appropriate citations to authorities and to the record concerning gasston issue.

CEOPrivateer Holdings. Accordingly, we cannot consider Gulf States issue on appeal.

Based on the existence of this undisputed contract, Gulf States insists it is entitled to damages. The trial court must also take into account equitable principles; for example, in the context of property, before a buyer may rescind a contract, she must give timely notice to the seller that the contract is being rescinded and must either return or offer to return the property received and the value of kdarby benefit derived from its possession.

Beaumontwrit denied. Rescission of a contract is an equitable remedy used as a substitute for monetary damages when such damages would not be adequate. Kearby 's Connections Gulf States consequently abandoned work on the Cody wells, and Mitcham removed and sold pumping equipment from Cody 2 that belonged to Omega.

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Kearby through your network of contacts. Board MemberHilltop Holdings Inc. Sign up now to view Gaston L.