Manufacturers National Bank v. Pink

Prior to 1974, defendant Dave Pink was indebted to plaintiff Manufacturers National Bank of Detroit on an unsecured debt. In 1974, the plaintiff demanded security for a renewal of the said loan and was given a mortgage on 77.67 unimproved acres of real estate in Flat Rock. The mortgage sum was $250,000. Defendant Cypora Pink, Dave Pink’s wife, was required to sign the mortgage as a condition of the loan extension agreement on the part of the plaintiff. No separate consideration ran to Cypora Pink’s estate.

On June 15, 1979, the obligation was again renewed, and the interest rate was agreed to…