Von Hake v. Thomas

ZIMMERMAN, Justice:

Defendants First National Credit Corporation and Ed Thomas, president of the corporation, appeal from a jury verdict finding them jointly and severally liable to plaintiff Richard A. Von Hake for damages arising out of defendants’ fraudulent acquisition of Von Hake’s ranch. We affirm the jury’s award of $487,200 in actual damages and $500,000 in punitive damages.

Von Hake owned an 80 percent interest in the Seeps Ranch located near Kanab, Utah.1 Von Hake had owned the ranch for nearly forty years. At the time of trial, the ranch was valued at over $1 million. In 1979, Von…