Kearl v. Rausser
United States Court of Appeals for the Tenth Circuit
293 F. App'x 592 (2008)
- Written by Salina Kennedy, JD
Facts
Dr. Gordon Rausser (defendant), an economist, made an agreement with three other economists (the economists) (plaintiffs) under which Rausser agreed to share the proceeds of several thousand shares of stock with the economists. The economists’ individual shares of the stock were to be based on the amount of work each performed over a time period ending on November 29, 2003. On that date, Rausser refused to sell the stock and share the proceeds. Instead, over the next several years, Rausser sold shares of the stock at various times and prices. The economists sued Rausser for breach of contract. A jury found for the economists and, although it did not ascertain the date of Rausser’s breach, it awarded more than $5 million in damages. The trial court denied Rausser’s motion for a new trial, and he appealed, arguing that the trial court had erred in failing to instruct the jury that it needed to determine the date of the breach.
Rule of Law
Issue
Holding and Reasoning (Gorsuch, J.)
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