Shurlow v. Bonthuis

Plaintiffs appeal as of right from the order of the circuit court granting summary disposition to defendant Bonthuis on the basis that plaintiffs’ failure to file a financing statement to perfect a landlord’s lien impaired the collateral so as to discharge Bonthuis’ obligation under two personal guaranty agreements. We affirm.

i

In 1991, plaintiffs and the predecessors of Market Place Media, Inc.’s (mpm), entered into a series of commercial leases for office space. In these leases, the predecessors granted plaintiffs a landlord’s lien 1 covering personal property located on the leased premises.…