Rode Oil Company, Inc. and Long Outdoor Advertisign v. Lamar Advertising Company (Formerly Outdoor Communication, Inc.)

At its core, this appeal presents a dispute over whether two parties had entered into an enforceable agreement for the lease of land to be used for the placement of a roadside billboard. The trial court held that there existed only an offer from the property owner which was revocable and that therefore the property owner could freely lease the same property to a third party. During the pendency of this litigation in the trial court, which took many years, a series of corporate asset transfers and acquisitions occurred—the result of which raises the question of whether the same party is in fact now on both sides of this suit. The court below held that a live controversy still exists, and it subsequently proceeded to set damages. For the reasons stated herein, we conclude that the trial court erred in its initial decision regarding the existence of a binding lease agreement. Accordingly, we reverse and remand for further proceedings consistent with this opinion.