Bank of the West v. Prince, No. 18-30970 (5th Cir. 2019)Annotate this Case
In this breach of contract action, the parties dispute the district court's damages award. The Fifth Circuit affirmed the district court's holding that Bank of the West was not entitled to contractual liquidated damages, but vacated the district court's alternative damages award and remanded for recalculation.
Although the court agreed with the district court that the liquidated damages provision of the parties' contract was unenforceable because it contravened the Louisiana Lease of Movables Act, the court held that the district court erred by basing its alternative damages calculation on the expectations of the lessor's assignee, Bank of the West, rather than those of the original lessor, Summit Funding Group.