Aquaplex, Inc. and James Edward Jones, Jr., Petitioners v. Rancho La Valencia, Inc. and Charles R. “randy” Turner…

Summary

The Texas Supreme Court held that there was legally sufficient evidence of fraudulent intent under the settlement agreement and that some actual damages were proper, but the trial court's damage award was excessive. It affirmed the appellate court's denial of declaratory and injunctive relief under the joint venture agreement and remanded for recalculation of damages and consideration of punitive damages.