Ace Truck & Equipment Rentals, Inc. v. Kahn

OPINION

By the Court,

Springer, J.:

This opinion is principally concerned with appellants’ contention that punitive damages awarded against appellants Berman and Pecson were excessive as a matter of law. Concluding that punitive damages were excessive, we state the rule applicable in such cases and order punitive damage awards reduced as excessive. The compensatory damage awards are affirmed.

The present controversy arose out of an agreement whereby Berman and Pecson sold a car rental business to the Kahns. The Kahns sued, claiming breach of contract and fraud. The jury awarded compensatory…