Trend Precious Metals Co. v. Sammartino, Inc.

OPINION

FAY, Chief Justice.

The plaintiff, Trend Precious Metals Company, Inc. (Trend), is before this court appealing both the Superior Court dismissal of its claim against the defendant Sam-martino, Inc. (Sammartino) and an adverse grant of summary judgment in favor of the defendant/intervenor Shawmut Bank, N.A. (Shawmut). We reverse.

Trend initiated this action in the Superior Court seeking a judgment discharging mortgages and financing statements held by Sammartino. Trend claimed that in December 1986 Sammartino lent Trend $200,- 000 secured by certain real estate located in Cranston, Rhode…