Ben Lomond, Inc. v. Schwartz

OPINION

EASTAUGH, Justice.

I. INTRODUCTION

Ben Lomond, Inc. (Lomond) appeals the superior court’s denials of Lomond’s motions for directed verdict, judgment notwithstanding the verdict (JNOV), and new trial. We reverse the superior court’s decision with regard to the amount of damages, and affirm in all other respects.

II. FACTS AND PROCEEDINGS

In May 1987 Railwater Terminal Company (Railwater) and Ben Lomond, Inc. entered into a joint venture agreement to salvage materials from oil fields on Alaska’s North Slope. In 1989 Lomond filed suit against Railwater alleging that Louis Schwartz,…