Jane Stephenson v. Capano Development

In this appeal from the Superior Court we address a matter of first impression -- the right to and measure of damages under the Consumer Fraud Act (6 Del.C. §§ 2511-26) (Act) as a result of fraudulent statements, concerning the availability of mortgage financing, in connection with the purchase and sale of real estate. Following her successful suit in the Court of Chancery for specific performance of an option contract to buy a house, Jane Stephenson sued Capano Development, Inc. (Capano) in Superior Court, alleging that Capano violated the Act and the Uniform Deceptive Trade Practices Act (6 Del.C. §§ 2531-36) in the sale of that house. The trial Judge ruled on cross-motions for summary judgment, and held, despite Capano's violations of the Act, that Stephenson had suffered no actual damages. Therefore, judgment was entered for Capano.