(Download) "Charles Waidmann and Herman Waidmann V." by Eastern District, Division Three Missouri Court of Appeals # Book PDF Kindle ePub Free
eBook details
- Title: Charles Waidmann and Herman Waidmann V.
- Author : Eastern District, Division Three Missouri Court of Appeals
- Release Date : January 13, 1986
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 73 KB
Description
Defendant Mercantile Trust Company National Association (Mercantile) appeals from a judgment of the Circuit Court of the City of St. Louis in favor of plaintiffs, Charles Waidmann in the sum of $111,772.96 and Herman Waidmann in the sum of $164,180.17 after a remittitur. On appeal, Mercantile alleges the trial court erred in: (1) overruling its motion for directed verdict and judgment notwithstanding the verdict where plaintiffs failed to comply with the terms of the letters of credit; (2) admitting extrinsic evidence and submitting an instruction on the meaning of the term payment in the letters of credit where such term was clear and unambiguous; (3) submitting an instruction on waiver and estoppel where Mercantile gave notice and reasons for its refusal to honor the Waidmanns' draws on the letters of credit within a reasonable time and where defects in the draw were incapable of being cured; and (4) submitting verdict directing instructions unsupported by the evidence and not in accord with MAI. In addition, Waidmanns contends that the trial court erred in denying their post trial motion for prejudgment interest where such was capable of determination by a mere mathematical calculation. A rendition of the facts pertinent to the issues raised on appeal follows. In 1978 Charles and Herman Waidmann began to seek buyers for their lumber yard business, Gerald Lumber Company, in Gerald, Missouri. The Waidmanns, along with their attorney, Daryl Hartley, entered negotiations with W. H. Powell Lumber Company (Powell), a subsidiary of Marian Industries, Inc. (Marian) and Marian's chief financial officer, Walter J. Lutz, Jr.