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Business Entities Keyed to Chiappinelli
Clancy v. King
Citation:
954 A.2d 1092 (Md. 2008)Facts
On 26 February 1992, Thomas L. Clancy, Jr. and Wanda King, his wife at the time, entered into an agreement, forming the Jack Ryan Limited Partnership. Clancy and King are the only partners of JRLP. In 1996, in the midst of the Op-Center series of books, Clancy and King, separated. Their divorce was finalized. Leading up to the divorce, Clancy and King entered into marital property agreement, which designated Clancy as managing partner of JRLP. It also contained a provision by which a party breaching the agreement would have to pay the non-breaching party’s resultant costs. After a total of 10 books were published, Clancy set the stage for the possible removal of his name from the Op-Center series. JRLP and S & R Literacy agreed. King filed a complaint alleging that Clancy breached his fiduciary duty to her and JRLP by stating that he intended to prevent the use of his name in connection with later books in the Op-Center series.
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