LVH, LLC v. Freeman Investment, LLC

A property development company brought suit against a property owner for specific performance to enforce an option agreement entered into between the company and the property owner.  The trial court held that the option agreement was enforceable and awarded specific performance and damages to the development company.  We have concluded that the option agreement is not sufficiently definite with respect to the option price and, therefore, is not an enforceable contract.  We reverse the decision of the trial court and remand for further proceedings regarding the development company’s alternative cause of action for unjust enrichment.