Introduction. The case of Jang Won Cho v. Kun Sik Kim, involves a dispute between 3 investors who invested in a retail strip shopping mall venture in Houston, Texas. No. 14-16-00962-CV, 2019 WL 1442412 (Tex. App.—Houston [14th Dist.] Apr. 2, 2019, no pet. h.). The 3 investors formed a corporation in which they
Texas Supreme Court Reverses another Multi-Million Dollar Business Fraud Verdict
By Dane Patrick on
Introduction. The Texas Supreme Court recently reversed another multi-million dollar business fraud verdict in Mercedes-Benz USA, LLC v. Carduco, Inc., 16-0644, 2019 WL 847845, at *1 (Tex. Feb. 22, 2019). The court found that the underlying contract between the parties negated the fraud claim.
Background. In this case, Carduco, Inc. entered into…
Texas Supreme Court Reverses $5 million Fraud Award for Punitive Damages
By Dane Patrick on
Introduction. The Texas Supreme Court has now held that contractual limitation of liability clauses barring a party’s right to recover punitive damages are enforceable, even if one of the parties to the contract commits fraud. Bombardier Aerospace Corp. v. SPEP Aircraft Holdings, LLC, 17-0578, 2019 WL 406075, at *8 (Tex. Feb. 1, 2019)
Background…