Alaska Northern Development, Inc. v. Alyeska Pipeline Service Co.

666 P.2d 33, cert. denied 464 U.S. 1041 (1983)

Purchase the Printed Copy at bsmsphd.com

Nature of the Case

To access this section all you need to do is click here and register.

Facts

Alaska (P) entered into discussions with Alyeska (D) for P to purchase all of D's caterpillar parts. A letter of intent was prepared, and P's proposal to purchase was sent to D. D responded with its own letter which was conditioned upon final approval of the owner committee. The price term was absent from the letter. P and D met and agreed that they would pay 65% of D's price and filed in the blank price and signed the letter. The proposal was rejected. P contends that D would only review the proposed agreement to determine if the price was fair and reasonable. D contends that there was no such limitation. P sued D and D moved for summary judgment. The court initially denied summary judgment for breach of contract but later changed its mind and granted judgment to D. P appealed.