The court presided over by Judge Kimba Wood, rejected Leonard's claims and denied recovery on several grounds, including:
- It was found that the advertisement featuring the jet did not constitute an offer under the Restatement (Second) of Contracts.
- The court found that even if the advertisement had been an offer, no reasonable person could have believed that the company seriously intended to convey a jet worth roughly $37.4 million for $700,000, i.e., that it was mere puffery.
- The value of the alleged contract meant that it fell under the provisions of the Statute of Frauds, but the statute's requirement for a written agreement between the parties was not fulfilled, so a contract had not been formed.