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KANE v. SCHULMEYER

No. 97, Sept. Term, 1997.

708 A.2d 1038 (1998)

349 Md. 424

Michael A. KANE, Trustee et al. v. G. Stephen SCHULMEYER et al.

Court of Appeals of Maryland.

May 12, 1998.

Attorney(s) appearing for the Case

Helen G. Kirsch (Reed, Smith, Shaw & McClay, L.L.P., on brief), Washington, DC, for petitioners.

Jay Fred Cohen, Baltimore (J. Shawn Alcarese, Towson; William F. Jones, Annapolis, on brief), for respondents.

Argued before BELL, C.J., and ELDRIDGE, RODOWSKY, CHASANOW, RAKER, WILNER and CATHELL, JJ.

WILNER, Judge.

In February, 1993, petitioners invested $400,000 in a limited partnership formed by respondents. As an inducement to petitioners to make that investment, respondents executed a guaranty agreement, in which they covenanted to return the $400,000 investment, on demand, if (1) the limited partnership sustained a "Net Cash Flow Shortfall" in any three periods, or (2) the gross sales of an affiliated limited partnership did not equal at least $3 million...

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