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AMERICAN PIONEER LIFE INS. v. SHERRARD

82-1167.

477 So.2d 287 (1985)

AMERICAN PIONEER LIFE INSURANCE COMPANY and Charles R. Joachim v. William M. SHERRARD and Kathleen P. Sherrard.

Supreme Court of Alabama.

Rehearing Denied September 27, 1985.

Attorney(s) appearing for the Case

Richard W. Bell of Bell, Allen & Johnson, Pelham, for appellants.

James W. Webb and Dan E. Schmaeling of Webb, Crumpton & McGregor, Montgomery, for appellees.

ALMON, Justice.

This appeal challenges the sufficiency of evidence of fraud in a business transaction. Plaintiffs invested in a business venture, allegedly in reliance upon false representations by defendants. William M. and Kathleen P. Sherrard sued American Pioneer Life Insurance Company and Charles R. Joachim for damages and for cancellation of a mortgage and note they had executed in favor of American Pioneer. American Pioneer counterclaimed for the amount due...

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