Illinois Appellate Court
Civil Court
Real Estate
Plaintiff attempted to enforce a note and guaranty executed by Defendants in connection with purchase of a horse farm. Court properly granted summary judgment for Plaintiff. The 5-year survival period for causes of action by or against a dissolved corporation is inapplicable and assignment of note and guaranty did not discharge the guarantors' obligations. Court properly found that, even if defense of usury was not waived, it would not be applicable to this case because of mortgage exception to the Interest Act. (McBRIDE and ELLIS, concurring.)