Скачать с ютуб Turner Broadcasting System, Inc. v. McDavid Case Brief Summary | Law Case Explained в хорошем качестве

Turner Broadcasting System, Inc. v. McDavid Case Brief Summary | Law Case Explained

Get more case briefs explained with Quimbee. Quimbee has over 20,000 case briefs (and counting) keyed to over 223 casebooks ► https://www.quimbee.com/case-briefs-o... Turner Broadcasting System, Inc. v. McDavid | 693 S.E.2d 873 (2010) Damages for breach of contract claims are compensatory awards designed to place the nonbreaching party, as nearly as possible, in the same position that party would’ve been if the breach never occurred. A Georgia appellate court considered whether a damages award was too excessive to be left alone in Turner Broadcasting System versus McDavid. Turner Broadcasting System owned the Atlanta Hawks professional basketball team and the Atlanta Thrashers professional hockey team. Turner also owned the operating rights to Philips Arena, where both teams played their home games. In October of two thousand two, Turner publicly announced its interest in selling the Hawks, the Thrashers, and the arena rights to reduce the company’s mounting debts. Not long after that, Texas businessman David McDavid threw his hat into the ring to buy the two teams and the arena rights. Turner and McDavid signed a letter of intent in April of two thousand three and then spent several more months negotiating the terms of the sale. During the course of the negotiations, both Turner’s chief executive officer and its principal negotiator made oral statements to the effect that McDavid was their guy and that the deal was done. In September of two thousand three, Turner and McDavid verbally reached a final agreement and made plans to meet in Atlanta for the closing and a press conference to announce the sale. A few days later, as McDavid was preparing to leave for Atlanta, Turner called with some bad news. Turner said that the company was going in a different direction and had sold the teams and the arena rights to the Atlanta Spirit investment partnership. McDavid sued Turner for breach of an oral contract to sell him the teams and the arena rights. At trial, the fair market value of those assets was highly contested, and both parties presented experts who gave valuation opinions. Turner’s expert testified that the fair market value of the assets was two hundred fifty-five million dollars for a hundred percent ownership interest. That valuation was based on the contract price offered by McDavid and paid by Atlanta Spirt of two hundred fifteen million dollars for an eighty-five percent ownership interest. McDavid’s experts testified that the value of the assets was actually much higher, somewhere between six hundred forty-seven million dollars and six hundred fifty-six million dollars for a hundred percent ownership interest. There was also evidence from Forbes that the assets were worth five hundred eighty-six million dollars. The jury returned a verdict for McDavid on the breach-of-oral-contract claim and awarded him two hundred eighty-one million dollars in damages. Turner appealed to the Georgia Court of Appeals, arguing that the award was excessive. Want more details on this case? Get the rule of law, issues, holding and reasonings, and more case facts here: https://www.quimbee.com/cases/turner-... The Quimbee App features over 20,000 case briefs keyed to over 223 casebooks. Try it free for 7 days! ► https://www.quimbee.com/case-briefs-o... Have Questions about this Case? Submit your questions and get answers from a real attorney here: https://www.quimbee.com/cases/turner-... Did we just become best friends? Stay connected to Quimbee here: Subscribe to our YouTube Channel ► https://www.youtube.com/subscription_... Quimbee Case Brief App ► https://www.quimbee.com/case-briefs-o... Facebook ►   / quimbeedotcom   Twitter ►   / quimbeedotcom   #casebriefs #lawcases #casesummaries