JB Mortgage Co., LLC v. Ring

The plaintiff, JB Mortgage Co., LLC, appeals from a judgment of the Superior Court dismissing its action to enforce defendant Jordan L. Ring, Ill’s guaranty of a promissory note secured by a mortgage on real property. The trial judge found that the plaintiffs suit was barred by the applicable statute of limitations because it was filed more than twenty years after a default existed on the underlying note. The central issue before us is when the cause of action on the guaranty of the note accrued. We affirm.

Background. On July 21, 1988, Edward C. Simonian, as trustee of the DX Trust (trust),…