Marias v. Marano

McDEVITT, Justice.

FACTS

In 1983, the plaintiff, Janos Marias, employed the defendant, Eugene Maraño, to prepare a contract for the sale of Marias’s interest in a partnership. Under the terms of the contract, the plaintiff was to retain a 50% interest in the partnership assets to secure the sale. In 1987, after the buyer had repeatedly failed to make the required payments, the plaintiff contacted another attorney to pursue his rights under the contract in either collecting the past due payments or repossessing the collateral. This attorney checked with the Secretary of State and found that the…