Shurlow v. Bonthuis

As a result of plaintiffs’ failure to perfect their security interest in the lessee’s personal property, defendant guarantor contends that he was discharged from any liability under two personal guaranty agreements. The circuit court granted defendant’s motion for summary disposition and the Court of Appeals affirmed. We granted leave to appeal to determine whether a security interest in personal property given as collateral to secure payment under a lease agreement for which defendant executed a personal guaranty was subject to ucc filing requirements and, if so, whether the failure on the…