Warren County Concrete, L.L.C. v. Peoples Bank & Trust Co.
340 S.W.3d 289
| Mo. Ct. App. | 2011Background
- WCC purchased real estate encumbered by a deed of trust held by Bank; Title Company acted as closing agent to obtain payoff and secure a deed of release.
- Closing occurred on October 31, 2003; Bank allegedly agreed to deliver a deed of release but did not.
- Title Company was responsible for obtaining the deed of release and coordinating with Bank.
- WCC did not discover the failure until after receiving a trustee's sale notice on July 27, 2009.
- WCC filed suit on November 18, 2009 asserting breach of contract and negligence against Bank and Title Company.
- Trial court dismissed on statute-of-limitations grounds; WCC appeals, arguing accrual occurred in 2009 rather than 2003.
Issues
| Issue | Plaintiff's Argument | Defendant's Argument | Held |
|---|---|---|---|
| Were WCC's claims against Bank and Title Company time-barred? | accrual occurred in 2009 upon discoverable damage | accrual occurred at closing in 2003 | Not time-barred; accrual in 2009, within five-year limit |
Key Cases Cited
- Branstad v. Kinstler, 166 S.W.3d 134 (Mo.App. W.D.2005) (statute-of-limitations accrual reviewed de novo on motions to dismiss)
- Martin v. Crowley, Wade and Milstead, Inc., 702 S.W.2d 57 (Mo. banc 1985) (damages ascertainable trigger accrual, not injury alone)
- Community Title Co. v. U.S. Title Guar. Co., Inc., 965 S.W.2d 245 (Mo.App. E.D.1998) (plaintiff has notice of legal wrong to trigger accrual)