T.L. Garden & Associates v. First Savings Bank

In this appeal arising from a bank’s agreement to reserve funds for payment of a subcontractor’s equipment costs, we must determine whether the trial court properly set aside a verdict in favor of the subcontractor.

Although the trial court set aside the jury verdict, we recite the facts and all reasonable inferences in the light most favorable to T.L. Garden & Associates, Inc. (T.L. Garden), the recipient of the jury verdict. Kim v. Douval Corp., 259 Va. 752, 756, 529 S.E.2d 92, 95 (2000). On April 9, 1998, T.L. Garden entered into a contract with BIP Electrical, Inc. (BIP) to install a fire…