Diversified Financial Systems, Inc v. Schanhals

Plaintiff appeals as of right from a December 19, 1991, judgment granting defendants’ motion for summary disposition pursuant to MCR 2.116(C)(7). We affirm.

Plaintiff sued defendants in their capacity as guarantors of a promissory note executed by a partnership known as Cherries Jubilee in favor of the National Bank and Trust Company of Traverse City. The noté, executed by Jubilee on February 5, 1979, was to be paid over a six-year period with the final payment due in September 1985. Jubilee failed to make the first installment payment on the note in 1980 and the bank brought suit against…