Gene F. Morris v. G. Findlay Reed

In the court below plaintiff received a directed verdict in the sum of $74,000.00 on an insurance policy plus interest thereon, but the court declined to impose penalties against the insurer for vexatious delay. The defendant insurance company appeals from the award of damages, while plaintiff cross-appeals from the denial of statutory penalties. The events giving rise to the present controversy occurred in December, 1966. Until the latter part of that month, Jay Appleson owned and operated the Buckingham Hotel. He became delinquent on a note secured by second mortgage on that property, and the note holder, Mark Southard, commenced foreclosure proceedings.