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MICH. NAT. BANK v. H-D-H SOUND STUDIOS

Docket No. 25655.

73 Mich. App. 12 (1976)

250 N.W.2d 532

MICHIGAN NATIONAL BANK OF DETROIT v. HOLLAND-DOZIER-HOLLAND SOUND STUDIOS

Michigan Court of Appeals.

Decided December 10, 1976.

Attorney(s) appearing for the Case

Kramer and Mellen, for plaintiff.

Patmon, Young & Kirk, P.C. (by Ulysses W. Boykin, III), for defendants.

Before: D.E. HOLBROOK, JR., P.J., and N.J. KAUFMAN and D.C. RILEY, JJ.

D.C. RILEY, J.

In September of 1972, plaintiff, Michigan National Bank, loaned $75,000 to defendant, Holland-Dozier-Holland Sound Studios (hereinafter "Sound Studios"). In return plaintiff received: (1) a promissory note for $88,495.20, which included interest to maturity, signed by Sound Studios as principal and by defendant, Edward J. Holland, Jr., as guarantor; and (2) a security agreement covering certain furniture, fixtures, equipment and inventory of Sound Studios...

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