(a) Grounds. Except as limited by Rule 61, a new trial may be granted to any party on any issue for any of the following reasons:
(1) irregularity in the proceedings of the court, jury or opposing party, or any order of the court, or abuse of discretion by which a party was prevented from having a fair trial;
(2) misconduct of the jury, which may be proved by the affidavit or declaration of any juror;
(3) accident or surprise that ordinary prudence could not have guarded against;
(4) newly discovered material evidence that could not, with reasonable diligence, have been discovered and produced at the trial;
(5) excessive or inadequate damages that appear to have been given under the influence of passion or prejudice;
(6) insufficiency of the evidence to justify the verdict or other decision; or
(7) that the verdict or decision is contrary to law or based on an error in law.
(b) Time for motion. A motion for a new trial must be filed no later than 28 days after entry of the judgment. When the motion for a new trial is filed under paragraph (a)(1), (2), (3), or (4), it must be supported by affidavits or declarations. If a motion for a new trial is supported by affidavits or declarations, they must be served with the motion.
(c) Further action after non-jury trial. After a nonjury trial, the court may, on motion for a new trial, open the judgment if one has been entered, take additional testimony, amend findings of fact and conclusions of law or make new ones, and direct entry of a new judgment.
(d) New trial on initiative of court or for reasons not in the motion. No later than 28 days after entry of the judgment the court, on its own, may order a new trial for any reason that would justify a new trial on motion of a party. After giving the parties notice and an opportunity to be heard, the court may grant a timely motion for a new trial for a reason not stated in the motion. The order granting a new trial must state the reasons for the new trial.
(e) Motion to alter or amend a judgment. Unless otherwise provided for by statute or rule, a motion to alter or amend the judgment must be filed no later than 28 days after entry of the judgment.