Burtone, Inc. v. Equitable Life Assurance Society

On appeal from a summary judgment issued by the Macomb County Circuit Court, we are asked to determine the identity of the insured under a group credit life insurance policy issued in conjunction with the purchase of certain merchandise and equipment.

Burtone, Inc., plaintiff-appellant, is a Michigan corporation. In 1970, Burtone purchased certain equipment from F. D. Stella Products Co., financing the purchase by giving F. D. Stella a note and security agreement. The note was subsequently sold to the Detroit Bank & Trust Company. At the time of the equipment sale, defendant-appellee, *195Equitable…