Wright v. Byron Financial, LLC

Plaintiff and Byron Financial filed suit against each other for breach of contract. The jury found that plaintiff had violated an agreement between the parties and owed Byron Financial $500,000.00. The district court then granted a remittitur, reducing the jury's verdict to $245,510.93 without offering Byron Financial the alternative of a new trial. The Eighth Circuit held that plaintiff failed to preserve for review his claim that defendant was seeking to recover damages for services that fell beyond the scope of the breach-of-contract claim; plaintiff did not object at trial that Byron Financial's evidence concerned matters beyond the scope of its pleadings; the jury's verdict was not motivated by passion and prejudice; the size of the verdict was not so monstrous, shocking, or plainly unjust as to require a new trial; but the district court erred when it ordered remittitur in the amount of $245,510.93. The court held that, under the maximum recovery rule, plaintiff owed Byron Financial $206,395.78 in base commissions, $5,209.80 in renewal commissions, and $39,115.18 in expenses, totaling $250,720.76. View "Wright v. Byron Financial, LLC" on Justia Law

Posted in: Contracts

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