In 1984, the parties entered into an agreement pursuant to which defendant Sheber was to purchase plaintiff Studley's 50% interest in the Mass Restaurant Corp. In 1985, the agreement was amended to provide that Studley would guarantee a five-year payout plan with respect to a $150,000 loan from Chemical Bank and that Sheber would indemnify Studley for any amounts paid out under the guarantee. In addition, the modified agreement provided that in the event the business was...
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