Collateral Liquidation, Inc. v. Renshaw

Plaintiff corporation appeals from a judgment of no cause of action rendered against it in a suit upon two promissory notes.

The note first executed reads as follows:

“Detroit, Mich., March 27, 1930.

“$550.

‘ ‘ On demand after date, I promise to pay to the order of the Union Trust Company of Detroit, at its office in the city of Detroit, Michigan, five hundred fifty dollars, for value received with interest at the rate of six per cent, per annum payable monthly: having deposited herewith as collateral security for the payment hereof, and all other liabilities, absolute or contingent, present or…