Cox Corp. v. Dugger

ELLETT, Chief Justice:

Cox Corporation sued Jerry Dugger for damages because of a claimed breach of an oral contract to lend $50,000. The case was tried to the court which rendered judgment in favor of Cox for $50,000, the total amount of money promised to be loaned.

Cox Corporation claims that it needed $50,000 to exercise an option to purchase realty and by reason of the failure of Dug-ger to make the funds available, it lost the opportunity to secure valuable property at a bargain. The damages, if allowable, would be the difference between the reasonable value of the property and the amount…