Jahnke v. Brown

1. Dennis Brown, C. Michael Lehman, and Richard Rowe were minority shareholders in a corporation owned and controlled by James E. Jahnke. They appeal from a summary judgment holding them liable for Jahnkes personal guarantees of various corporate obligations to the Bank of Waunakee. The issue is whether two documents executed in connection with Jahnkes sale of his stock back to the corporation binds appellants to indemnify him for his liability on the guarantees. Our independent review of the record leads us to disagree with the result reached by the circuit court, and we therefore reverse the judgment.