Ryu

INTRODUCTION

Byung Moon Choi appeals from a judgment entered in favor of Jae R. Ryu following a bench trial on Ryu‘s action for breach of contract. The judgment awarded Ryu $135,000 in damages. Choi contends that (1) the trial court committed reversible error in failing to issue a statement of decision; (2) the trial court failed to weigh all relevant evidence; and (3) there is no substantial evidence to support the judgment. We affirm in part, reverse in part and remand for a new trial on damages.

FACTUAL AND PROCEDURAL BACKGROUND1

Ryu was president of Hunt World Trading Corp., a company engaged in the business of importing handbags manufactured in China. Choi had or owned the rights to certain trademarks for the production of handbags. The parties had entered into two agreements, under both of which Choi granted to Ryu the exclusive use of two trademarks. This appeal concerns the interpretation of the automatic-renewal clause contained in the second agreement.

A. The Initial Agreement

On January 27, 2008, Ryu and Choi executed ―by mutual e-file‖ the first agreement (January agreement) which provided: ―1. ‗A‘, Byung Moon Choi, agrees and permits that ‗B,‘ Hunt World, uses…