Opinion handed down May 12, 2015
Landowner, Randy Spalding, sued titled insurer, Stewart Title Guaranty Company, for breach of contract and vexatious refusal to pay an insurance claim relating to a defective title sold to Spalding.[1] Spalding purchased 419 acres with plans to construct a lake development within the area.[2] However, a third party owned the title to one of the 419 acres, preventing the lake development.[3] In response to the sale of the defective title, Stewart assessed $10,000 of damages pursuant to their title insurance policy, which Spalding alleged was inadequate.[4] After a jury trial, the trial court entered an amended judgment for Spalding for over $1,100,000.[5] Stewart Title appealed the judgment contending various errors by the trial court.[6] The Supreme Court of Missouri affirmed the trial court’s judgment, holding that Spalding’s claim was not barred by a five-year statute of limitations, expert testimony from Spalding’s appraiser regarding damages was admissible, and the jury was not confused or misled by jury instructions on damages.[7] This Summary will address the issue of admitting the appraisers of damages as expert testimony.