George G. Stiefel Et Al. v. Richard Schick

DOCUMENT STATUS: NOT FINAL UNTIL EXPIRATION OF THE REHEARING PERIOD. The plaintiffs-appellants, Stiefel and Freimark, and the defendants-appellees, Schick and Forman, were business partners.
Appellants sued the appellees for a declaration that each appellant owned part of the partnership. Appellant Stiefel also
filed a claim for fraud. Appellees counterclaimed, inter alia, for compensatory damages for fraud and "punitive" (exemplary)
damages. After the trial court directed a verdict against Stiefel on his claim for fraud, the jury returned a verdict finding
that appellants had no interest in the partnership. The jury also awarded appellees one dollar in nominal damages and $50,000
in punitive damages. After judgment was entered on the verdict, Stiefel appealed the directed verdict and both appellants
appealed the award of punitive damages. 1 We affirm the directed verdict, and reverse the award of punitive damages.