X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Hardy King and Beverly King sued Roger Gray to recover principal and interest on a $30,000 loan. Gray denied he was indebted to the Kings, and he counterclaimed for $29,192.97. Following a bench trial, the trial court awarded the Kings $25,500 in principal and $4,229.85 in interest on the loan, and $5,850 in attorney fees, and awarded Gray $8,028 on his counterclaim. Gray appeals, and we affirm except as to the amount of attorney fees awarded. Although the trial court was authorized to award attorney fees, the evidence does not show the fee award was reasonable, and we vacate the judgment as to the amount of attorney fees and remand for the case for an evidentiary hearing on that issue. “The court is the trier of fact in a bench trial, and its findings will be upheld on appeal if there is any evidence to support them.”1 Viewed to uphold the trial court’s findings, the evidence shows Hardy King and Gray were partners in a business enterprise consisting of buying, repairing, and then selling used cars. They had an oral agreement to share equally in the profits and losses of the business. In March of 1998, Hardy King and his wife Beverly King had a lunch meeting with Gray to discuss the possibility of the Kings investing in another of Gray’s business ventures, which involved purchasing computers to be sold to the West Point Military Academy. The Kings declined to invest.

After the lunch meeting, Gray told Hardy King that his cash flow was “a little bit short,” and if King would loan him $30,000 he would repay King within 30 days. On June 13, 1998, Hardy King wrote a $30,000 check to Gray from a joint account with his wife. After the 30 day period passed, Hardy King asked Gray about the loan, and Gray represented that his money was tied up because of “technical difficulties” and problems with the computer venture. Gray subsequently repaid only $4,500 of the loan. The Kings brought this action on October 8, 2001 to recover the outstanding principal, along with interest at the legal rate and attorney fees.

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

More From ALM

With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now
Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now
Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
May 01, 2025
Atlanta, GA

The Daily Report is honoring those attorneys and judges who have made a remarkable difference in the legal profession.


Learn More
February 24, 2025 - February 26, 2025
Las Vegas, NV

This conference aims to help insurers and litigators better manage complex claims and litigation.


Learn More
March 24, 2025
New York, NY

Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives.


Learn More

DEPUTY PORT ATTORNEY III Oakland, CA Salary: $17,294 - $21,419/month, 37.5-hr work week Your Port. Your Community. Your Career. Whe...


Apply Now ›

Stern, Lavinthal & Frankenberg, LLC, is seeking a foreclosure attorney experienced in the NJ and/or NY foreclosure process and default l...


Apply Now ›

Mineola defense firm seeks attorneys with 3-5 years of actual insurance defense experience to handle complex general liability matters. Sala...


Apply Now ›