Legal Opinion
Revocable Living Trust of Strand v. Wel-Co Group, Inc.
Court of Appeals of Washington
Decided March 25, 2004No. 21591-1-IIIPublishedCited by 4 opinions
1Opinion of the CourtSweeney, J.
— This is a dispute over a loan for the purchase of a luxury condominium in Kirkland, Washington. The loan was made to Douglas and Diana Brown by the Strand Trust, a private lender. It was guaranteed by Wel-Co Group, Inc. The central question presented is whether the *831condominium purchase was for a commercial purpose and therefore exempt from Washington’s usury law. The trial court ruled on summary judgment that it was. And the court also ruled that the Strand Trust did not diminish Wel-Co’s security or subrogation rights. We affirm.
FACTS
The facts here are undisputed. The Strand Revocable…
2Cases cited12 opinions
- Young v. Key Pharmaceuticals, Inc.Washington Supreme Court · 1989
- Mt. Park Homeowners Ass'n, Inc. v. TydingsWashington Supreme Court · 1994
- Kruse v. HempWashington Supreme Court · 1993
- State v. WilliamsWashington Supreme Court · 1997
- National Bank v. Equity InvestorsWashington Supreme Court · 1976
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3Cited by4 opinions
- Columbia Asset Recovery Group, LLC v. KellyCourt of Appeals of Washington · 2013
- Columbia Asset Recovery Group, Llc v. Joseph R. Kelly, Et Ano.Court of Appeals of Washington · 2013
- REVOCABLE LIVING TRUST OF STRAND v. Wel-Co Group, Inc.Court of Appeals of Washington · 2004
- Serpanok Construction, Inc., V. Point Ruston, LlcCourt of Appeals of Washington · 2021