Atlantic Banana Company v. Standard Fruit & Steamship Company

DYER, Circuit Judge:

In this diversity action, Standard Fruit and Steamship Company appeals from the district court’s judgment that a binding contract existed between Standard and Atlantic Banana Company for the purchase, importation and sale of Ecuadorian bananas and that Standard was liable for breach of the agreement. The district court awarded Atlantic $566,530.60 in damages, plus interest from the date of the interlocutory decree imposing liability. We affirm the court’s determination of liability, but reverse in part with respect to damages.

In 1960, the highly competitive American banana…