Mississippi Supreme Court
4-Way Electric Services, LLC v. Huntcole, LLC and 4-Way Electric Co., Inc.
June 22, 2023
Summary
The court held that the Asset Purchase Agreement transferred the disputed equipment to 4-Way as personal property, so 4-Way did not convert it by removing it from Huntcole's building. The court nevertheless upheld liability for damage caused to the building during removal, while reversing the equipment-related compensatory damages and attorneys' fees awards and remanding for recalculation. It also enforced the Lease's waiver of punitive damages and reversed and rendered the punitive-damages award.