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Pentagon Props. Inc. v. Wheat

The plaintiffs did not promptly rescind the lease agreement upon discovering the improper 10-year lease term in the contract, and therefore, were bound by the written terms of the agreement.

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Pentagon Properties, Inc. “PPI”, and Boyd Roane, Inc. “BRI”, appeal the trial court’s denial of their motion for summary judgment and the final judgment in their dispossessory action against Charles and Nicole Wheat. We reverse and remand, for the reasons that follow.

Viewed in favor of the verdict,1 the record shows that in 2001, the Wheats2 signed a lease-purchase agreement for a mobile home owned by PPI and located in Cedar Village Mobile Home Community, which was owned and managed by BRI. Under the agreement, the Wheats were required to pay monthly lease payments in the amount of $375 to PPI and lot fees and utility costs to BRI. The agreement provided for a lease term, after which the Wheats would have the option to purchase the home for a stated sum payable over 12 months. The agreement also contained a merger clause, wherein the parties agreed: “This lease and any exhibits attached hereto contain the entire agreement of the parties, and no representations, inducements, promises, or agreements, oral or otherwise, between the parties not embodied herein by a written amendment executed by both parties shall be of any force or effect.”

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