The plaintiff brought a motion for summary judgment against the defendants as guarantors of a $500,000 loan provided for a retirement home construction project.
The defendants argued they were released from their guarantees due to material alterations to the loan agreement, accord and satisfaction, premature demand, and laches.
The court applied the 'full appreciation test' under Rule 20 and found no genuine issue requiring a trial.
The court rejected all defences, finding no material alteration, no acceptance of units in satisfaction of the debt, that the loan was due, and that the delay in demanding payment benefited rather than prejudiced the defendants.
Summary judgment was granted in the amount claimed.