QQ UTG 50NL Weak Fold?

[resetdave]

Party Poker No-Limit Hold'em, $ BB (10 handed) converter

SB ($53.95)
BB ($50.75)
Hero ($106.95)
UTG+1 ($108.55)
UTG+2 ($66.85)
MP1 ($40.80)
MP2 ($20)
MP3 ($56.25)
CO :#A500AF(Villain)/ ($85.10)
Button ($46.80)

Preflop: Hero is UTG with Q[img]/images/graemlins/diamond.gif[/img], Q[img]/images/graemlins/heart.gif[/img]. SB posts a blind of $0.25.
<font color="#CC3333">Hero raises to $2.5</font>, <font color="#666666">3 folds</font>, MP2 calls $2.50, <font color="#666666">1 fold</font>, CO :#A500AF(Villain)/ calls $2.50, <font color="#666666">2 folds</font>, BB calls $2.

Flop: ($10.25) 3[img]/images/graemlins/club.gif[/img], 2[img]/images/graemlins/club.gif[/img], 4[img]/images/graemlins/diamond.gif[/img] <font color="#0000FF">(4 players)</font>
BB checks, <font color="#CC3333">Hero bets $7</font>, MP2 calls $7, <font color="#CC3333">Villain raises to $14</font>, BB folds, Hero folds, MP2 calls $7.

Turn: ($45.25) 8[img]/images/graemlins/club.gif[/img] <font color="#0000FF">(2 players)</font>
MP2 checks, <font color="#CC3333">Villain bets $4</font>, MP2 calls $3.50 (All-In).

River: ($52.75) 8[img]/images/graemlins/diamond.gif[/img] <font color="#0000FF">(2 players, 1 all-in)</font>

Final Pot: $52.75


What do you think Villain had? Was I wrong to fold? Reasons?