Submitted: October 2, 2014
On Plaintiff Reybold Venture Group XVI LLC's Cross-Motion for Summary Judgment. DENIED.
On Defendant Christopher M. Cresswell's Amended Cross-Motion for Summary Judgment. GRANTED.
Jeffrey M. Weiner, Esquire The Law Offices of Jeffrey M. Weiner, P.A. Attorney for Plaintiff
Joseph S. Naylor, Esquire Swartz Campbell, LLC Wilmington, Delaware 19899 Attorney for Defendant Christopher M. Cresswell
RICHARD R. COOCH RESIDENT JUDGE
Plaintiff Reybold and Defendant Cresswell have cross-moved for summary judgment. The Court must determine the extent of Defendant's liability to Plaintiff under a guaranty executed by the parties. Both parties assert that the guaranty is "unambiguous, " although they interpret it differently. Defendant contends summary judgment should be granted in his favor because the guaranty at issue "unambiguously" limits Defendant's liability to the $42, 000 Defendant already owes under an order of partial final judgment in this matter. Plaintiff in response contends summary judgment should be granted in its favor because the guaranty at issue "unambiguously" extends Defendant's liability to $183, 367.64 in unpaid base rent, plus the uncontested $42, 000 sum.
The Court concludes that the guaranty executed by the parties limits Defendant's liability to the $42, 000 previously awarded to Plaintiff by this Court. Plaintiff's Motion for Summary Judgment is therefore DENIED. Defendant's Motion for Summary Judgment is therefore GRANTED.
II. FACTUAL AND PROCEDURAL HISTORY
A. Stipulated Factual and Procedural History:
The parties in this case agreed to a stipulation of the factual and procedural history that was submitted to the Court. That stipulation appears in toto below:
1. Plaintiff Reybold Venture Group XVI LLC ("Reybold") is a Delaware Limited Liability Company (paragraph 1 of the Complaint and Answer) [Pretrial Stipulation ("PTS") Facts Admitted Without Formal Proof ("Facts Admitted")].
2. Defendant Christopher M. Cresswell ("Cresswell") is an individual residing at 2305 West 16th Street, Wilmington, Delaware 19806 [paragraph 2(a) of the Complaint and Answer] [PTS Facts Admitted Without Formal Proof ("Facts Admitted")].
3. Defendant Furniture Services Unlimited, LLC ("Furniture") is a Delaware Limited Liability Company [paragraph 2(b) of the Complaint and Answer] (PTS Facts Admitted).
4. On or about April 17, 2006, Plaintiff Reybold and Defendant Furniture entered into a Lease Agreement for Suites 106, 107, and 108 of the Basin Road Distribution Center located at 6 Bellecor Drive, New Castle, Delaware 19720 (Plaintiff Exhibit #1) (paragraph 3 of the Complaint and Answer) (PTS Facts Admitted). A copy of the April 17, 2006 Lease is attached an incorporated herein as Exhibit A.
5. On or about January 25, 2008, Defendant Cresswell executed a Guaranty (PTS Facts Admitted). A copy of the January 25, 2008 Guaranty is attached ...