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 (plaintiff) agreed to sell oil and gas leases to Chesapeake (defendant) under purchase-and-sale agreements incorporating exhibits describing the leases, which were subject only to removal (not addition) of leases with uncurable title defects; Chesapeake refused to close, and the trial court held the agreements violated the statute of frauds because the exhibits were not yet finalized when signed.
Whether a property description is sufficient under the statute of frauds if the writing furnishes within itself, or by reference to some other existing writing, the means or data by which the particular property to be conveyed may be identified with reasonable certainty.