A Bradley County jury, in an 11-1 decision last week, awarded Kenneth McDougal nearly $460,000 in a lawsuit McDougal filed against his former business partners, F. David Chambers and Michelle Chambers.
McDougal, the former vice president and general manager of Bradley Lumber Company and member of Bradley Timberland Resources, LLC, agreed in July 2005 to sell to Chambers his interest in Bradley Timberland Resources for $500,000.
According to the agreement, signed by McDougal, F. David Chambers and Michelle Chambers on July 22, 2005, Chambers would pay McDougal $35,418 in cash, convey to McDougal 30.71 acres of land in Bradley County, transfer to McDougal a $119,763 note receivable, and pay McDougal $300,000 in three annual $100,000 installments beginning on July 15, 2006.
McDougal, in his 2012 lawsuit, said Chambers had made no payments on the $300,000 promissory note.
David and Michelle Chambers denied McDougal’s allegation that they had made no payments on the promissory note and denied being in default. Further, they alleged that McDougal had breached the contract, did not deal fairly and in good faith, and made false statements.
McDougal denied Chambers’ allegations.
The Bradley County jury agreed with McDougal and awarded him $300,000 plus interest.
Circuit Judge Don Glover on September 17, 2015, ordered Chambers to pay McDougal $300,000 in compensatory damages plus interest for a total of $459,698.63.
McDougal was represented by Monticello attorneys Cliff Gibson and Lee Curry.
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