Butler v. Westgate State Bank

The opinion of the court was delivered by

Herd, J.:

This is an action brought by Thomas E. Butler against Westgate State Bank for damages arising out of breach of an alleged contract to make a loan. At trial, a jury awarded Butler $47,600, $40,000 of which was specified for lost profits. In response to the bank’s post-trial motion, the trial court set aside the jury’s award of $40,000, allowing the $7,600 judgment for plaintiff’s out of pocket expenses. Plaintiff appealed to the Court of Appeals from the trial court’s elimination of the $40,000. Defendant cross-appealed from the judgment for…