Foundation Property Investments, LLC v. CTP, LLC

The opinion of the court was delivered by

Nuss, J.:

This case requires us to determine whether a lender s right to enforce a promissory note’s acceleration clause has been waived by lender’s repeated acceptance of late monthly payments from its borrower. The district court granted summary judgment to lender, Foundation Property Investments, LLC (Foundation), holding that Foundation was entitled to accelerate. The borrower, CTP, LLC (CTP), appealed, and the Court of Appeals reversed, holding that Foundation waived its acceleration rights. Foundation Property Investments v. CTP, 37 Kan. App. 2d…