ASKINUK CORP. v. LOWER YUKON SCHOOL DIST.

No. S-12786.

214 P.3d 259 (2009)

ASKINUK CORPORATION, Appellant, v. LOWER YUKON SCHOOL DISTRICT, Appellee.

Supreme Court of Alaska.

July 31, 2009.


Attorney(s) appearing for the Case

A. Lee Petersen, Petersen Professional Corp., Willow, for Appellant.

Raymond E. Goad, Jr., and Saul R. Friedman, Jermain Dunnagan & Owens, P.C., Anchorage, for Appellee.

Before: MATTHEWS, EASTAUGH, CARPENETI, and WINFREE, Justices.


OPINION

EASTAUGH, Justice.

I. INTRODUCTION

After the Lower Yukon School District leased twenty acres from Askinuk Corporation on which to build a school in Scammon Bay, Askinuk sued the school district to reform or invalidate the lease. The lease specified a lease rate of one dollar per year, subject to renegotiation after ten years. It also provided that if the parties could not reach mutual agreement upon renegotiation, the original payment...

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