Wilson Leasing Co. v. Seaway Pharmacal Corp.

This case was originally assigned to Judge R. B. Burns for the preparation of the *362Court’s opinion. He has fully set forth the necessary facts and we agree with his opinion except as to the holding concerning the application of the funds paid over by the individual guarantors of corporate debts.

We do not read Chris Nelsen & Son, Inc v Shubow, 374 Mich 403; 132 NW2d 122 (1965), as does our colleague. True, there is language in Shubow which tends to obscure its basic decisional holding.

The fact situation in the case at bar is so essentially different from that in Shubow that the difference…