Jenzack Partners, LLC v. Stoneridge Associates, LLC

Summary

The court held that the plaintiff had standing to foreclose the mortgage because the guarantee expressly extended its benefits to future holders of the note, making the assignment of the note operate as an assignment of the guarantee. It also held that the plaintiff's debt computation, including an initial balance supplied by the original lender, was admissible under the business records exception because the original lender had a business duty to provide accurate information and the plaintiff incorporated that information into its own records. The judgment was reversed in part and the trial court's foreclosure judgment was ordered affirmed.