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November 1, 2015Joseph R. Anderson

Life Settlement Agreements and the Texas Securities Act: a Summary and Review of Life Partners, Inc. v. Arnold

Life Partners, Inc. v. Arnold, 464 S.W.3d 660 (Tex. 2015)

URI, Inc. v. Kleberg Cty., 543 S.W.3d 755 (Tex. 2018)

This case addresses a contract dispute between URI, Inc. ("URI") and Kleberg County regarding the interpretation of a settlement agreement (the "Settlement Agreement"). Kleberg County alleged that URI breached the Settlement Agreement by recommencing mining in a specific area (PAA 3) before restoring the water in a previously mined area (PAA 1) to its pre-mining quality. The County argued that Section 11.1 of the Settlement Agreement, informed by the facts and circumstances attending its execution, mandated the exclusive use of data from 1985 in order to determine the pre-mining water quality of a well in PAA1. URI, in contrast, argued that, pursuant to the plain language of the Settlement Agreement, data from 1987 could be used to determine the pre-mining water quality of a well in PAA1. Whereas the 1985 data standing alone would have required URI to restore a well's water quality before mining elsewhere, the 1987 data did not necessitate such a restoration effort on URI's part.