Facts

In 1980, the artist Andy Warhol created two nearly identical portraits of actress Farrah Fawcett. In 2009, Fawcett passed away, leaving certain artwork to the University of Texas. At the time of her death, both portraits were located in her home and both had been listed on her insurance policies for several years. The Trustee of Fawcett's Estate delivered to UT one of the portraits, which the Trustee determined was owned by Fawcett. The Trustee did not deliver the other portrait to UT, concluding it was the property of O'Neal.

PLAINTIFF'S CONTENTIONS:
UT claimed both portraits were the property of Fawcett, and that it was entitled to each of them under the terms of Fawcett's Trust. It demanded that O'Neal surrender his portrait to UT or pay it money damages in the amount of $12 million, alleging causes of action for Conversion and Constructive Trust.

DEFENDANT'S CONTENTIONS:
O'Neal denied UT's claims, on the grounds that he is the rightful owner of the portrait because it was conveyed directly to O'Neal by the artist in 1980.

O'Neal also filed a counterclaim, demanding return of other artwork created by Warhol consisting of a drawing on a napkin inscribed by the artist "To Farrah F. and Ryan O'," which he claimed was mistakenly transferred to UT by the Trustee.

O'Neal contended that the napkin artwork was jointly owned by Fawcett and O'Neal, alleging causes of action for Conversion and Claim and Delivery.

Result

A jury returned a defense verdict, finding that the Warhol portrait was not the property of the late Farrah Fawcett and that Fawcett and O'Neal jointly owned the napkin drawing.