Facts
Detter and Schreiber formed a corporation and in connection with, Schreiber executed two promissory notes totaling $19,000. Schreiber retained the services of Young, an attorney, to draft the shareholder agreement. Schreiber failed to pay the notes.
Procedural History
Detter sued for enforcement of the promissory notes. Schreiber was represented by Young and Detter moved to have Young removed for a conflict. Trial court found Young had a conflict of interest and sustainer Detter’s motion.
Issue(s)
Did the trial court err in finding a conflict of interest?
Holding(s)
No.
Reasoning/Analysis
The Court found that preparation of the shareholder agreement would require Young to work with both Detter and Schreiber and to ascertain their financial and personal interests. Thus, it could be reasonably inferred Young had knowledge of the two promissory notes which are subject to the counterclaim.
Judgment/Outcome
The Court affirmed the judgment of the trial court.
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