Hutchings v. Sternberg

PRESIDING JUSTICE MEJDA

delivered the opinion of the court:

Defendants, Daniel P. Sternberg and James E Schmidt,1 appeal from an order awarding plaintiffs judgments for compensatory and punitive damages upon a finding that defendants’ wilful substitution of a note and trust deed with different dates of payment and an altered subordination clause caused loss of plaintiffs’ senior security interest in the subject property. Defendants contend that: (1) plaintiffs failed to prove fraud by failure to prove the essential element of actual damages; and (2) because of the lack of proof of actual…