The plaintiff brought a motion for summary judgment to enforce a $300,000 promissory note executed by the defendant.
The defendant admitted to borrowing the funds and failing to repay the note, but raised several defences, including lack of consideration, reliance on third-party misrepresentations, and a pending arbitration under a related shareholders' agreement.
The court rejected these defences, finding no material facts in dispute and that the obligation to pay the note was independent of the shareholders' agreement.
Summary judgment was granted in favour of the plaintiff for the principal amount plus prejudgment interest, with credit given for interest payments previously made by the defendant.