Geans v. McCaig

This is an action for fraud and deceit seeking damages or rescission of a land sale contract and the note and mortgage executed pursuant thereto. Defendants filed a counterclaim for the balance due on the note. At the close of plaintiffs' evidence, the trial court entered a directed verdict for the defendants on both the complaint and the counterclaim, holding that the statute of limitations had run on the fraud claims because the plaintiffs should have discovered the alleged fraud more than one year before they brought suit.

On September 7, 1979, Shelby W. McCaig and his wife, Brenda McCaig,…