Fogarty v. Palumbo
Rhode Island Supreme Court
163 A.3d 526 (2017)
- Written by Robert Cane, JD
Facts
Charles Fogarty (plaintiff) sought to purchase a parcel of real property. The property was under contract. However, Ralph Palumbo (defendant) ultimately purchased the property. Fogarty sued Palumbo, the title-insurance company, and the escrow agent. Fogarty based his claims on theories of breach of contract, tortious interference with a contractual relationship, and interference with a prospective contractual relationship, among other claims. Fogarty hired an expert to provide testimony about Fogarty’s lost profits caused by Palumbo’s purchase of the property. The testimony of Fogarty’s expert provided proof that lost-profits damages existed as well as a formula for their calculation, but the expert did not quantify Fogarty’s damages because he lacked certain details of the alleged sale. The trial court granted summary judgment in favor of Palumbo and the others, finding that Fogarty’s claim for lost profits was too speculative. Fogarty appealed.
Rule of Law
Issue
Holding and Reasoning (Suttell, C.J.)
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