Facts

Cannon Constructors North Inc. sued Black Coral Capital LLC and others.

PLAINTIFF'S CONTENTIONS: Cannon alleged that Zeta Communities Inc. breached its contract to manufacture modules for Cannon and that Black Coral, a Zeta investor, was responsible for that breach under a promissory estoppel theory. According to Cannon, Black Coral promised that it would back the project in a letter that it sent to Cannon's lender. Therefore, Cannon argued that the letter was an enforceable promise and that it was a third party beneficiary thereof.

DEFENDANTS' CONTENTIONS: Black Coral moved for summary judgment arguing that it did not have a contractual relationship with Cannon, and that it did not make a clear and unambiguous promise to Cannon in the letter, among other things.

Damages

Cannon alleged that it suffered $1,500,000 in damages.

Result

Black Coral's motion for summary judgment was granted.