Court of Appeal

                                NOVA SCOTIA COURT OF APPEAL

                Citation: [Credit Union Atlantic Ltd. v. Roy, 2002 NSCA 126]

                                                                                                     Date: 20021015

                                                                                               Docket: CA 179574

                                                                                                   Registry:  Halifax

Between:

                            Credit Union Atlantic Limited, a body corporate

                                                                                                               Appellant

                                                             v.

                                                      Wendy Roy

                                                                                                            Respondent

Judges:                           Glube, C.J.N.S.; Saunders and Oland, JJ.A.

Appeal heard:                 October 15, 2002, in Halifax, Nova Scotia

Written judgment:          October 16, 2002

Held:                    Appeal dismissed with costs per oral reasons for judgment of Oland, J.A.; Glube, C.J.N.S. and Saunders, J.A. concurring.

Counsel:                         David G. Coles and James D. MacNeil, for the appellant

Stanley W. MacDonald, for the respondent

Reasons for judgment:  OLAND, J.A. (Orally):

[1]              This is an appeal from a decision of Justice Gerald R.P. Moir dismissing an action in foreclosure and sale by the appellant against the respondent.

[2]              In his decision, the trial judge reviewed the evidence and, in particular, the specific wording in a January 6, 1997 line of credit loan agreement containing a fixed expiry date which the respondent's husband signed with the appellant, a collateral mortgage provided by the respondent to the appellant as collateral security a few days later, and a second line of credit loan agreement without an expiry date signed by the respondent's husband on March 4, 1998.  The only document signed by the respondent was the collateral mortgage.

[3]              We have considered the decision under appeal, the materials filed on appeal, and the oral submissions of the parties.  We are not persuaded that, in finding that the January 1997 loan agreement expired and liability under the mortgage collateral to it became discharged as the line of credit continued to revolve, the trial judge made any error of law or committed any overriding or palpable error in his conclusions on matters of fact.  Accordingly, there is no need for us to address the second ground of appeal pertaining to material alteration.

[4]              We would order that the appeal be dismissed with costs payable to the respondent in the amount of $3,640., being 40% of the trial costs.

Oland, J.A.

Concurred in:

Glube, C.J.N.S.

Saunders, J.A.