Wednesday, December 25, 2013

Beynon Building Corp. v. National Guardian Life Insurance Co. case brief

Beynon Building Corp. v. National Guardian Life Insurance Co. case brief summary
455 N.E.2d 246 (1983)

The Circuit Court of Winnebago County (Illinois), denied plaintiff corporation's complaint for a release from a mortgage held by defendant companies. The corporation appealed the judgment.

The corporation executed a mortgage and note with one of the companies. The mortgage and note was then assigned to another company. After the corporation made the monthly payments required under the agreement, it sent the company a check with an accompanying letter requesting a release of the mortgage. The company refused to accept the check as the final payment. When further attempts to obtain a release from the mortgage failed, the corporation filed a complaint for release from the mortgage. The court entered its judgment denying the corporation's complaint for release of mortgage and granting the company's request for reformation of the mortgage and note.


  • On appeal, the court determined that a mutual mistake was made on the mortgage document as to the correct amount of the monthly payments. 
  • The court also held that the company claim was not barred by the statute of limitations. 
  • The court invoked the doctrine of estoppel because the corporation obtained an amortization schedule which clearly indicated that the loan would not be amortized according to the terms shown on the note and mortgage.

The judgment was affirmed.

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