Nylim Real Estate Mezzanine Fund v. Lembi
This appeal has been taken from the trial court’s ruling that granted plaintiff’s motion for summary judgment and the subsequent entry of judgment in favor of plaintiff in an action for breach of a loan guaranty agreement. Appellant claims the agreement was not supported by consideration, and breach of the agreement did not cause damages to plaintiff. He also challenges the liquidated damages provision of the agreement as an unenforceable penalty. We conclude that the loan and guaranty modification was supported by consideration, the breach of the agreement by failure to pay the loan caused plaintiff damages, and the damages provision was not unreasonable. We therefore affirm the judgment.
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