Monthofer Investment Ltd. Partnership v. Allen

OPINION

FIDEL, Judge.

In 1987, Wolfgang and Nancy Monthofer were co-trustees of the E.M.W. Family Trust, an entity which served as the sole general partner of another entity known as Monthofer Investments Limited Partnership (“MILP”). Mark Allen was the Monthofers’ attorney.

In August 1987, as part of a complex real estate transaction, Allen arranged for MILP to assume liability on a full-recourse promissory note (“the Note”) held by Goodbuck Investors Limited Partnership Number 3 (“Goodbuck”). In preparing the necessary documents, however, Allen mistakenly identified the Monthofers as general…