C & D INVESTMENTS v. Beaudoin

OPINION

LANSING, Judge.

Respondent C & D Investments (C & D), in a declaratory judgment action, sought to enjoin appellant Loren H. Beaudoin from foreclosing. a mortgage on respondent’s property and to have the mortgage set aside. The trial court granted judgment in favor of C & D, determining that' the consideration for the obligation underlying the mortgage had failed and that Beaudoin had breached the parties’ agreement to exhaust other collateral before foreclosing on the mortgage. We reverse.

FACTS

This case arises from a complicated loan and guarantee transaction involving David Johnson and…