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VIRGINIA POLYTECHNIC v. PROSPER FINANCIAL

Record No. 111912.

732 S.E.2d 246 (2012)

284 Va. 474

VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY v. PROSPER FINANCIAL, INC.

Supreme Court of Virginia.

September 14, 2012.

Attorney(s) appearing for the Case

Stephen F. Capaldo ( Kay K. Heidbreder , Blacksburg, on briefs), for appellant.

Bevin R. Alexander, Jr. ( J. Barrett Lucy ; Freeman, Dunn, Alexander, Tiller, Gay & Lucy, Lynchburg, on brief), for appellee.

Present: KINSER, C.J., LEMONS, GOODWYN, MILLETTE, MIMS and POWELL, JJ., and LACY, S.J.

Opinion by Senior Justice ELIZABETH B. LACY.

In this appeal we consider whether the trial court erred in setting aside a default judgment in an action filed pursuant to Code § 8.01-428(D).

Background

In 2008, Virginia Polytechnic Institute and State University ("VPI") and Prosper Financial, Inc. ("Prosper") entered into a research contract. The contract between the parties stated, on the first...

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