- 30 -
longer responsible. See id. at 243-244. After examining section
620.735(2), the Court of Appeals stated:
No express or inferred agreement existed here. There
was no express agreement between Weiss and the Hillman
Group partners relieving Weiss of liability; Flagship
did not expressly release Weiss from his personal
guarantee; and nothing in the course of dealings be-
tween the Hillman Group and Flagship permits the in-
ference that Flagship released Weiss from his personal
guarantee.
Because the Tax Court did not indicate what course
of dealings showed that Weiss was relieved of liabil-
ity, we suppose that Flagship's extension of a $200,000
line of credit to the Hillman Group somehow influenced
the Tax Court. But this credit extension is in no way
inconsistent with the fact that Flagship still consid-
ered Weiss personally liable on his guarantee of the
loan participation. Without a clear inconsistency
between the written guarantee and later conduct by
Flagship, we see no reason to infer that Weiss had been
discharged from his obligation pursuant to the guaran-
tee. For example, we might decide that Weiss was
relieved from his liability by the course of dealings
if, without expressly releasing Weiss, Flagship had
substituted a new written guarantee from the Hillman
Group or one of its members after Weiss' partnership
interest was terminated. Or, for another example, we
might also have decided that Weiss was released if, in
the course of dealings, Flagship had been forced to
recover on their loan participation and sought recovery
only from the Hillman Group and not from Weiss. But
here nothing in the record shows that Flagship had
released Weiss from his personal guarantee. [Id. at
245.]
Petitioners attempt to distinguish Weiss. They contend that
"Weiss did not present a situation, such as the instant case,
where the loan became due and the payment was changed from a
balloon payment to payment of interest only." As discussed
above, we reject petitioners' position that the terms of the 1989
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