Delzer v. United Bank of Bismarck
North Dakota Supreme Court
559 N.W.2d 531 (1997)
The Delzers (plaintiffs) pledged their ranch and assets for a $300,000 loan from United Bank of Bismarck (defendant), receiving an initial $150,000 advance but never receiving the promised additional $150,000 for cattle purchases; unable to pay their debts without the second advance, the Delzers lost their ranch to foreclosure and sued for breach and punitive damages, and a jury awarded $538,000 in compensatory damages for deceit and $3 million in exemplary damages before the trial court granted the Bank judgment as a matter of law on the deceit claim.
Whether, in North Dakota, punitive damages may be awarded where a defendant fraudulently induces the plaintiff to enter into a contract by making a promise it has no intention of performing.