CITATION: Business Development Bank of Canada v. Goodfellow, 2008 ONCA 73

DATE: 20080205

DOCKET: C47412

COURT OF APPEAL FOR ONTARIO

FELDMAN, GILLESE and ARMSTRONG JJ.A.

BETWEEN:

BUSINESS DEVELOPMENT BANK OF CANADA

Plaintiff (Respondent on Appeal)

and

TERRENCE GOODFELLOW

Defendant (Appellant on Appeal)

Douglas A. Quirt for the appellant

Erin Finlay for the respondent

Heard and endorsed February 4, 2008

On appeal from the order of Justice M. G. J. Quigley of the Superior Court of Justice dated June 27, 2007.

APPEAL BOOK ENDORSEMENT

[1] In our view there is no basis to interfere with the decision of the motion judge to grant summary judgment on the guarantee. The terms of the guarantee are clear and unambiguous. There appears to be no basis to admit parole evidence to contradict the clear words of the guarantee. The appellant’s company received the funds from the bank. He would be entitled to an assignment of the security he says the bank agreed to look to before enforcing the guarantee.

[2] The appeal is therefore dismissed with costs fixed at $3,500 inclusive of disbursements and G.S.T.