Lee v. Wal-Mart Stores, Inc. (34 F.3d 285, 1994)

GARWOOD, Circuit Judge:

This is a diversity action originally brought by plaintiff-appellant Mike D. Lee (Lee) against defendant-appellee Wal-Mart Stores, Inc. (Wal-Mart) for alleged damages that resulted from two Texas construction projects in the towns of Daingerfield and Paris. At trial, the jury found that Wal-Mart had breached its fiduciary duty to Lee and had committed economic duress and fraud, but that Lee was estopped to complain about Wal-Mart’s acts. The district court entered a take nothing judgment in Wal-Mart’s favor, which Lee appealed. We reversed and remanded the judgment concerning the Daingerfield transaction because we determined that Lee may have presented enough evidence to support a jury verdict for economic duress, and it was unclear, if this were so, whether the jury’s estoppel finding precluded Lee’s recovery. On remand, the district court granted Wal-Mart’s summary judgment motion, ruling that Lee had failed to present any evidence of economic duress and in any event he was barred from recovery by the jury’s estoppel finding. Lee now appeals the district court’s grant of Wal-Mart’s summary judgment motion. We affirm.

Facts and Proceedings Below

The background facts are described in Lee v. Wal-Mart Stores, Inc., 943 F.2d 554, 556-59 (5th Cir.1991), corrected, reh’g denied, 951 F.2d 54 (1992). Since 1975, Lee, an experienced real estate developer, has purchased and developed land sites for shopping centers which he has leased in part to Wal-Mart on a long-term basis. In September 1984, Wal-Mart’s real estate manager for Texas, Bill Bothwell (Bothwell), expressed to Lee Wal-Mart’s desire to have a store in Daingerfield, Texas. Bothwell told Lee that Wal-Mart was interested in operating a store on a site which was part of an 11.706 acre tract of land (the property) owned by others that was subject to an option to purchase held by two Daingerfield residents. Bothwell asked Lee to get involved in the project and he subsequently entered into a partnership with the two individuals holding the option. On December 17, 1984, the partnership purchased the property.

In January 1985, Lee sent to Wal-Mart his proposed terms for the Daingerfield project. On March 14, 1985, Bothwell sent Lee a letter stating in full:

“Re: Daingerfield, Texas

Dear Mike:

This is to confirm our telephone conversation concerning the subject town that Thomas P. Seay, Sr. Vice President, Real Estate and Construction has agreed to enter into a lease with you on your stie [sic] in Daingerfield for a 1987 opening.

I will prepare a lease, similar to Marshall with the following leasie [sic] items:

1. Size 50,966 square foot.

2. Term 20 years plus 6 — 5’s.

3. Rent $3.60 per square foot.

4. C.A.M. 15