Citizens Standard Life Insurance Co. v. Muncy

ROBINSON, Justice.

This is a suit for rescission, restitution, and exemplary damages for fraud in the inducement of the purchase of an annuity contract. Defendant insurance company appeals a judgment for plaintiff for $1,702.-75 actual damages and $5,000 punitive damages as found by a jury. Judgment modified to rescind the annuity contract. As modified, affirmed in part, reversed and rendered in part.

The jury found that Charles Hosch or Wendell Spray, or both, represented to plaintiff Muncy that their proposal for purchasing and paying for an annuity contract would make Muncy some money at no…