Eastern Caribbean Corp. v. West Indian Co.

MEMORANDUM OPINION WITH ORDER ATTACHED

This is an action by a mortgagor for breach of the mortgage contract. The defendant has moved for summary judgment. Inasmuch as there are material issues of fact in dispute, summary judgment will be denied.

I

In December 1973, Eastern Caribbean Corporation and *417its officers and principal shareholders (hereinafter “Caribbean”), the plaintiffs, and the West Indian Company, Ltd. (hereinafter “West Indian”), the defendant, renegotiated the financial provisions of the sale agreement of the Maison Danoise gift shop in St. Thomas, which Caribbean had purchased from…