AMERICAN PIONEER LIFE INS. v. Sherrard

This appeal challenges the sufficiency of evidence of fraud in a business transaction. Plaintiffs invested in a business venture, allegedly in reliance upon false representations by defendants. William M. and Kathleen P. Sherrard sued American Pioneer Life Insurance Company and Charles R. Joachim for damages and for cancellation of a mortgage and note they had executed in favor of American Pioneer. American Pioneer counterclaimed for the amount due on the note secured by the mortgage.

At the close of all the evidence at trial, the court ordered that the mortgage be cancelled. The jury awarded…