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Dyet v. McKinley12/4/2003
s necessary to enable us to exercise our rights; and
2. Nothing after loss to prejudice them.
A. If we make a payment under this policy and the person to or for whom payment is made recovers damages from another, that person shall:
1. Hold in trust for us the proceeds of the recovery; and
2. Reimburse us to the extent of our payment.
The rule sought by McKinley is that Dyet's recovery be reduced by the $75,000 unless she can prove that Hartford has recovered or intends to recover the amount paid. This could result in the non-recovery of those damages by Dyet if the damages are reduced and Hartford subsequently seeks recovery. Whether or not Hartford seeks recovery from Dyet as it is entitled under the contract is a contractual matter between Dyet and Hartford. If damages are reduced and Hartford seeks recovery, Dyet would either have to reopen proceedings against McKinley or suffer incomplete recovery of damages. This would either violate Idaho's policy of finalizing litigation or result in injustice. For purposes of I.C. § 6-1606 the operative fact is that the amount is recoverable.
V. THE DISTRICT COURT DID NOT ENTER JUDGMENT CALLING FOR PREJUDGMENT INTEREST COMMENCING MAY 18, 2001 ON THE ENTIRE JUDGMENT
McKinley argues that the district court improperly awarded pre-judgment interest on the entire judgment from May 18, 2001, instead of just interest on the offer of settlement under I.C. § 12-301(c).
Dyet agrees with McKinley that pre-judgment interest should only be awarded on the $85,000 settlement and not the entire judgment. However, Dyet believes that the court awarded the proper interest. In its final judgment, the district court made reference to its prior order awarding pre-judgment interest only on the $85,000.
I.C. § 12-301 authorizes the prevailing party to recover over and above the judgment annual interest on the amount contained in the settlement offer, computed from the date the offer of settlement was served:
If the court finds that such claimant has recovered an amount equal to or greater than his offer of settlement, the court shall add to the judgment, annual interest on the amount contained in such offer, computed from the date that the offer of settlement was served and shall enter judgment accordingly.
In the matter of interest on offers of settlement the Idaho legislature enacted I.C. § 12-301, which allows the court to add to the judgment annual interest on the amount of an offer of settlement if a claimant recovers an amount equal to or greater than his or her offer settlement.
In the current case, the district court ruled that:
Dyet served upon McKinley an offer of settlement on May 18, 2001, in the amount of $85,000, which was not accepted by McKinley and this matter has now moved to judgment. The [district court] finds that Dyet has recovered an amount greater than her offer of settlement and therefore, Dyet is entitled to interest on the $85,000.00 settlement offer computed from May 18, 2001.
The district court rightly awarded interest to Dyet based on the unaccepted offer of settlement.
I.C. § 12-301 states, "for purposes of this section, 'annual interest' shall mean the rate specified in I.C. § 28-22-104(2)." I.C. § 28-22-104 states:
The legal rate of interest on money due on the judgment of any competent court or tribunal shall be the rate of five percent (5%) plus the base rate at the time of entry of the judgment à The payment of interest and principal on each judgment shall be calculated according to a three hundred sixty-five (365) day year.
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