Jones v. Thomas & Hill, Inc.

Lewis, Justice:

This action for fraud and deceit resulted in a verdict in plaintiffs’ favor for $5,000.00, actual damages, which was subsequently reduced to $4,000.00 by the trial judge upon defendant’s motion for a new trial nisi. Plaintiffs are husband and wife and obtained a mortgage loan from defendant to refinance an existing indebtedness against their property. This action arose out of the alleged failure of defendant to have issued, as promised, a policy of life insurance to secure the payment of any remaining indebtedness in the event of the death of the husband, the mortgagor. The…