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What Happened: After years of fruitless negotiations, Wal-Mart decided to pull out of discussions for a long-term ground lease but didn’t notify the would-be landlord until months later. Having invested so much time and money in trying to secure the ground lease, the landlord went bankrupt. As a result, the property went on the market and Wal-Mart bought it. The landlord sued Wal-Mart for breach of good faith, breach of contract, and promissory estoppel. The federal court rejected all three claims.
