American Federal Bank v. Number One Main Joint Venture

Toal, Justice:

In this action on a note and guaranties, the defendants separately contest the trial court’s rulings. We affirm the trial court on all grounds except as to the amount of attorneys’ fees.

FACTUAL/PROCEDURAL BACKGROUND

Number One Main (“Joint Venture”) is a joint venture composed of two entities: the Middleburg Company, wholly owned by Arthur St. J. Simons, II, and Columbia Investors, which includes six partners of the former Berry Law Firm (“Law Firm”). The goal of Joint Venture was to acquire, renovate, and market Number One Main Street, a multistory office building located in…