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MILLER & SMITH v. CASEY PMN

No. 29 September Term 2009.

987 A.2d 1 (2010)

412 Md. 230

MILLER AND SMITH AT QUERCUS, LLC, et al. v. CASEY PMN, LLC.

Court of Appeals of Maryland.

January 11, 2010.

Attorney(s) appearing for the Case

Paul T. Glasgow (Samantha M. Williams and Kristin M. Koger of Venable LLP of Rockville), on brief, for petitioners.

Paul A. Kaplan (James W. Gladstone of Womble, Carlyle, Sandridge & Rice, PLLC of Washington, D.C.), on brief, for respondent.

Argued before Bell, C.J., HARRELL, BATTAGLIA, GREENE, MURPHY, ADKINS, and BARBERA, JJ.

BATTAGLIA, J.

In 1998, Miller and Smith, a Maryland limited liability company, executed a promissory note titled "Deferred Purchase Money Promissory Note II"1 in which it promised to pay $3,296,000, with interest, to Potomac Capital Investment Corporation, an affiliate of Potomac Electric Power Company (PEPCO), in order to purchase approximately 258 acres of land in Montgomery County. In addition to the repayment of principal and its attendant...

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