Peled v. Meridian Bank

JOYCE, Judge:

This is an appeal from the final judgment entered in favor of Appellee-Meridian Bank in connection with Appellants’ action for breach of contract, conversion and fraud. For the reasons set forth below, we affirm. Before addressing the merits of Appellants’ claims, it is necessary to recount the pertinent facts giving rise to this appeal.

On July 1, 1992, Jacob Peled, 1 Harry Car-dillo 2 and John Lovett 3 executed a share holder’s agreement pursuant to which Appel-lee, Paragon, USA, Inc. (Paragon) was formed. 4 The agreement designated Lovett as the president of Paragon and…