Opinion ID: 563774
Heading Depth: 2
Heading Rank: 1

Heading: Denial of Post-Trial Motions.

Text: 101 Mongillo moved for judgment n.o.v. or in the alternative for a new trial. Both motions were denied. He argues now, as he did below, that various conditions precedent to the loan agreement between FRG and Union Trust had not been satisfied. These conditions required the borrower inter alia to pony up $300,000 and tender a $1,000,000 letter of credit at the closing. Neither the cash nor the letter of credit was produced. On this basis, Mongillo contends that he should not be held liable for the anticipated benefits of a deal that would in any event have collapsed. 102 The standard under which we review the denial of judgment n.o.v. is the same as for a directed verdict. See Wagenmann, 829 F.2d at 200. In fine, the evidence and all reasonable inferences extractable therefrom must be examined in the light most favorable to the nonmovant and [a] judgment notwithstanding the verdict should be granted only when the evidence, viewed from this perspective, is such that reasonable persons could reach but one conclusion. Id. Mongillo cannot clear this hurdle. There was repeated testimony that literal compliance with the conditions of the bank's commitment letter had been waived. In light of this evidence, and because the standard of review prohibits us from considering the credibility of witnesses or assaying the weight of the evidence, we, like the trial court, must bow to the jury's resolution of the disputed fact. 14 103 The terrain is scarcely more hospitable to Mongillo with respect to the denial of his new trial motion: 104 It is well settled that the district court should order a new trial only when convinced that the clear weight of the evidence so requires or that a miscarriage of justice would otherwise result. The standard which governs our review is equally plain. We will reverse the denial of such a motion only for abuse of discretion. 105 Real v. Hogan, 828 F.2d 58, 61 (1st Cir.1987) (citations omitted). 106 The trial court did not abuse its discretion in this instance. As already mentioned, plausible evidence was offered on the issue of the bank's waiver of the transactional conditions. In light of this evidence, it cannot be said that a verdict against Mongillo necessarily reflected evidentiary disregard or constituted a miscarriage of justice. See Freeman, 865 F.2d at 1333-34 (The mere fact that a contrary verdict may have been equally--or even more easily--supportable furnishes no cognizable ground for granting a new trial. If the weight of the evidence is not grotesquely lopsided, it is irrelevant that the judge, were he sitting jury-waived, would likely have found the other way.). 107