Thomas Evans v. Thomas Camp
Published: May 28, 2003 | Result Date: Feb. 13, 2003 | Filing Date: Jan. 1, 1900 |Case number: CIVMSC0000729 Verdict – $2,100,000
Judge
Court
Contra Costa Superior
Attorneys
Plaintiff
Defendant
Experts
Plaintiff
Mark Abelson
(technical)
Facts
The plaintiff, Thomas Evans, retained the defendant Thomas Camp, Esq. to represent him in a partition action filed by Evan's brother. Camp was entrusted with the responsibility of investing and managing Evan's nearly $1 million share of the proceeds from the partitioned property. Camp invested the bulk of Evan's proceeds in a Stockton shopping center which was not suitable for Evan's investment. Following the purchase, Camp represented the shopping center in subsequent transactions. Camp used the remaining $96,000 to purchase a 20 percent interest in 40 acres of land that Camp had himself purchased for a total of $123,000 20 days before. Camp kept Evans' $96,000 for himself, leaving the full 40 acre parcel of land fully encumbered. When the shopping center went into foreclosure one year after purchase, Camp took out a $125,000 loan against Evans' three remaining properties, including his residence. All of Evans' properties were eventually lost to foreclosure except for his 20 percent ownership interest in Camp's property.
Settlement Discussions
The defendant submitted a C.C.P. Section 998 offer of $101,000.
Damages
The plaintiff claimed the full amount of the initial investment in the shopping center, without interest, the full value of the three parcels of land which were used as collateral for the $125,000 loan, and the full value of the 96/123 percentage of the 40 acres that plaintiff should have received with his $96,000 investment.
Result
The jury awarded the plaintiff the full amount invested in the shopping center, the full value of the three parcels of property lost to foreclosure and $430,000 for the portion of the 40 acres, that the plaintiff should have, but did not receive with his $96,000 investment.
Other Information
The defendant's motion for judgment notwithstanding the verdict was denied. The defendant's motion for a new trial was conditionally granted pending the plaintiff's agreement to a $300,000 reduction in one item of damages. The plaintiff's motion for a constructive trust over 9.1 acres of land was granted.
Deliberation
two days
Poll
9-3 (on three special findings)
Length
15 days
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