FMB-First Michigan Bank v. Bailey
Michigan Court of Appeals
1Opinion of the CourtSaad, J.
i
NATURE OF THE CASE
This appeal is the most recent chapter in the tangled legal and financial affairs of the law firm Bailey & Koetje, P.C. (b & k). Before the firm’s dissolution, each of the three partners personally guaranteed a portion of a loan made by plaintiff to B & K. Following the firm’s dissolution, plaintiff attempted to collect the guaranteed amount. Although his two partners paid their share of the loan as required by the guarantee, defendant/third-party plaintiff, Donald M. Bailey (defendant) refused to pay, and plaintiff sued. Defendant sued the third-party defendants on a…
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