Opinion ID: 1791881
Heading Depth: 1
Heading Rank: 6

Heading: Completeness of the Lower Court Ruling

Text: Hancock contends the lower court ruling did not adequately address the issues presented by its complaint for declaratory judgment pursuant to Miss.R.Civ.Pro. 57. Specifically, this section of the Bank's complaint addressed the court's assessment of damages against the bank for its admitted negligence in failing to procure insurance for the Travises. The lower court required Hancock Bank to make monthly payments on the loan for the benefit of the Travises so long as the disability continues or the loan is paid in full. While we are in agreement with that portion of the lower court's order assessing the extent of the bank's liability we agree that the chancellor stopped short of what is legally required and the bank is entitled to an offset for premiums which would have been paid by the Travises and for certain payments not made. To not hold the Travises liable for the premiums would unjustly enrich them and place them in a better position than they would have been had the insurance been procured. We hold that Hancock Bank is entitled to collect the premiums which would have been paid on a policy covering the full term of the loan. Additionally, we hold the chancery court erred in denying Hancock the $986.02 representing the past due monthly mortgage payments which predated Mr. Travis' injury. Hancock is entitled to the $986.02 plus penalties and interest thereon. Eastland v. Gregory, 530 So.2d 172 (Miss. 1988) (a party who breaches a contract is only liable for the damages caused by the breach, and the non-defaulting party is only entitled to be put in the same position he would have been had there been no breach). Finally, the question of Milton Travis' disability during the period of the loan is subject to verification in accordance with the standards of the industry in the area. In determining those standards, the court may consider the policy normally offered by Hancock Bank as well as other policies issued in the area by financial institutions.