Steinger v. Smith

Action to recover $726,175 actual and $100,000 punitive damages. Plaintiff has appealed from the judgment rendered on a directed verdict for defendants.

Plaintiff's action is based on an alleged conspiracy to defraud whereby, it is alleged, plaintiff was induced to assign his one-half interest (of alleged value $726,175) in the capital stock of two corporations to defendant George R. Smith, Jr., for the unconscionable sum of $5000.

There was evidence introduced tending to show that June 25, 1943, plaintiff and defendant George R. Smith, Jr., had executed a note payable on demand ("and if no…