Opinion ID: 2630568
Heading Depth: 3
Heading Rank: 2

Heading: University Properties

Text: ¶ 34 University Properties acted through its employee, Knapp, throughout the transaction of which appellees complain. The acts of its employee are the basis of the company's vicarious liability, and are subject to the same analysis. The chief factor aggravating the award against Knapp, a lack of remorse increasing the likelihood of recidivism, is not directly applicable to a separate corporate entity. A ratio of 1:1 recognizes that defendant's conduct was wrongful. Moreover, a 1:1 ratio based on the total amount of fraud damage for which defendant is jointly and severally liable, not merely on this defendant's portion of that damage, is a significant punishment. An award of punitive damages equal to the fraud damages, $71,336 is adequate to punish and deter University Properties.