First Nat. Bank North Platte v. Cardenas

Summary

The Nebraska Supreme Court affirmed a jury verdict awarding First National Bank North Platte a deficiency judgment against Jose and Christina Cardenas and their limited liability company following trustee sales of secured real property. The court held that the borrowers’ failure to move for a new trial precluded appellate review of excessive damages, although the sufficiency of the evidence remained reviewable. The court also upheld the refusal to give requested jury instructions concerning farm mediation, the right to cure defaults, and foreclosure sale bidding requirements.

Holdings

1. When an action has been tried before a jury, a motion for new trial is a prerequisite to appellate review of inadequate or excessive damages; because the borrowers did not file one, their excessive-damages claim was not properly before the court.
2. The evidence was sufficient to support the jury's $171,162.66 deficiency verdict for the bank.
3. The trial court properly refused to instruct the jury on the alleged failure to provide notice of mediation because the instruction was not warranted by the evidence.
4. The trial court properly refused the requested right-to-cure instructions because they were not correct statements of law and were not supported by the evidence.
5. The trial court properly refused the borrowers' proposed instruction stating that a below-market trustee-sale bid absolutely barred a deficiency judgment.

Questions Presented

1. Whether the borrowers could obtain appellate review of their claim that the jury awarded excessive damages when they failed to file a motion for new trial.
2. Whether sufficient evidence supported the jury's deficiency verdict.
3. Whether the trial court erred by refusing to instruct the jury on the bank's alleged duty under the Farm Mediation Act to provide notice of mediation.
4. Whether the trial court erred by refusing to instruct the jury that the borrowers had a right to cure defaults under the Nebraska Trust Deeds Act.
5. Whether the trial court erred by refusing to give the borrowers' proposed instruction concerning the bank's alleged failure to bid fair market value at the trustee's sales.

Disposition

affirmed