Board of Trustees of the General Retirement System v. Ren-Cen Indoor Tennis & Racquet Club

In this action on a promissory note secured by a mortgage, the circuit court granted summary judgment for plaintiff pursuant to GCR 1963, 117.2(3), holding that there was no genuine issue as to any material fact and that plaintiff was entitled to prevail as a matter of law. Defendants’ countermotion for summary judgment was denied, and defendants appeal as of right.

The affidavits and other evidence before the circuit court showed that on June 28, 1978, plaintiff loaned defendant Ren-Cen Indoor Tennis & Racquet Club $1.1 million and received a promissory note for that amount secured by a first…