MICHIGAN NAT'L BANK v. DUNBAR

Docket No. 78-856.

91 Mich. App. 385 (1979)

283 N.W.2d 747

MICHIGAN NATIONAL BANK OF DETROIT v. DUNBAR

Michigan Court of Appeals.

Decided July 23, 1979.


Attorney(s) appearing for the Case

Kramer, Mellen, Magner & Ishbia, P.C., for plaintiff.

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

Before: J.H. GILLIS, P.J., and BEASLEY and R.M. RANSOM, JJ.


BEASLEY, J.

Plaintiff alleges that on December 17, 1971, defendant, Ronald Dunbar, delivered his promissory note to plaintiff for $12,400 with interest at 7% payable 180 days after date. Plaintiff also alleges that, as security for the loan evidenced by the promissory note, defendant, Edward J. Holland, Jr., guaranteed payment.

Plaintiff says defendant indicated the purpose of the loan was for oil investment. The note was subsequently renewed until March 12...

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