Calculation of prejudgment interest in contract case reversed so interest will begin to run no earlier than earliest date payment was due

Russell v. Hernon, 2017 VT 45  

SKOGLUND, J. Defendants appeal from a jury verdict in favor of plaintiff  in this breach-of-contract action. They challenge the jury instructions, the admission of certain evidence, and the court’s calculation of prejudgment interest. With the exception of prejudgment interest, we affirm the court’s judgment. The court’s prejudgment interest calculation is reversed and remanded for additional proceedings consistent with this opinion.

Plaintiff asked defendant to pay the sum in full by June 14, 2013. Defendants did not do so. We agree with defendants that June 14, 2013, appears to be the earliest date that prejudgment interest could begin to accrue. Because we cannot discern the basis for the court’s determination that interest began to accrue on May 1, 2013, we must reverse and remand the calculation of prejudgment interest for additional proceedings. See Sec’y, Vt. Agency Nat. Res. v. Irish, 169 Vt. 407, 419, 738 A.2d 571, 580 (1999) (reversing and remanding where trial court failed to make necessary findings). 

Affirmed, with the exception of the court’s calculation of prejudgment interest. The calculation of prejudgment interest is reversed and remanded for additional proceedings consistent with this opinion.