LEGACY HALL OF FAME, INC., BILL KINARD AND LINDA KINARD, APPELLANTS
TRANSPORT TRAILER SERVICE, INC., LARRY MICHAEL AND BECKY MICHAEL, APPELLEES
COURT FROM WHICH APPEALED: LEE COUNTY CHANCERY COURT. DATE OF JUDGMENT: 11/15/2012. TRIAL JUDGE: HON. TALMADGE D. LITTLEJOHN. TRIAL COURT DENIED MOTION TO SET ASIDE SETTLEMENT AGREEMENT.
FOR APPELLANTS: RICHARD SHANE MCLAUGHLIN, NICOLE H. MCLAUGHLIN.
FOR APPELLEES: KENNETH HAROLD COGHLAN, TOMMY DEXTER CADLE.
BEFORE GRIFFIS, P.J., ROBERTS AND FAIR, JJ. LEE, C.J., IRVING AND GRIFFIS, P.JJ., BARNES, ISHEE, ROBERTS, CARLTON, MAXWELL AND JAMES, JJ., CONCUR.
NATURE OF THE CASE: CIVIL - CONTRACT
¶1. This appeal arises from a motion to set aside a settlement agreement. On March 12, 2010, Bill Kinard and Linda Kinard, as directors of Legacy Hall of Fame Inc. (collectively " Legacy Hall" ), filed a complaint in chancery court against Transport Trailer Service Inc., Larry Michael, and Becky Michael (collectively " Transport Trailer" ), seeking delivery of a negotiated bus and money damages. Transport Trailer filed a counterclaim seeking $188,058.71 from Legacy Hall for attorneys' fees and services rendered. The parties entered into a written settlement agreement on December 12, 2011. The bus was sold at
auction in March 2012 to Transport Trailer. Four months later, Legacy Hall filed a motion to set aside the settlement agreement, claiming that Bill had lacked the mental capacity to agree to the settlement. The chancellor held an evidentiary hearing and found that the agreement was enforceable and that Bill was competent at the time he signed it. Legacy Hall appealed. After careful review, we affirm the chancellor's decision.
¶2. In 2009, Legacy Hall hired Transport Trailer to deliver a 1976 tour bus and a 1957 Cadillac from Yakima, Washington, to Tupelo, Mississippi. The tour bus and Cadillac were allegedly connected to Elvis Presley. Transport Trailer eventually delivered the Cadillac to Legacy Hall but refused to deliver the bus. Transport Trailer requested the sum of $188,058.71 for its services, which included retrieval of the vehicles and restoration of the bus.
¶3. Bill's deposition was scheduled for December 12, 2011, at his attorney's office in Tupelo. That same day, the parties reached an agreement to resolve the dispute. The settlement agreement gave Legacy Hall forty-five days to sell the bus and pay Transport Trailer $134,000 from the sale proceeds. The agreement further provided that if the bus did not sell within forty-five days, then the bus would be sold by a third party, with Transport Trailer receiving the first $134,000 from the proceeds of the sale.
¶4. Legacy Hall was unable to sell the bus within forty-five days. So, as stated in the settlement agreement, the bus was auctioned on March 31, 2012. Larry of Transport Trailer was the only bidder, winning the bus for $85,000. On July 26, 2012, Legacy Hall filed a motion to set aside the settlement agreement, alleging that Bill was incompetent on December 12, 2011, when he ...