Opinion ID: 449535
Heading Depth: 2
Heading Rank: 2

Heading: depreciation schedule

Text: 53 USFIC argues that, even if the United States has acquired Union Pacific's rights, it has nothing because Union Pacific had no reimbursable claim under the policy. USFIC contends that the parties had agreed to a depreciation schedule that was not included in the policy as the result of mutual mistake. After depreciation is subtracted, it says, the loss was less than the $2.5 million deductible. 54 In one of the series of decisions below, the district judge found that genuine issues of material fact remained concerning the proper method of depreciation. He cited contradictory evidence concerning the fact of agreement to a particular schedule and expressed doubts concerning the appropriateness of reformation. As summary judgment on the issue would have been inappropriate, it is not an alternative ground for affirming the district court's grant of summary judgment.