Minnesota  |  Business Law

Legal Question

Asked on: 10/21/13, 3:33 am

A friend signed a guarantee that is labled "unconditional and absolute" for a transaction. This transaction was for funds to be deposited into escrow and then repaid when the party had secured the business loan. The funds were not disbursed into an escrow account and were subsequently absconded with. Does the person that signed the guarantee owe the money, since the funds were not disbursed into escrow?

3 Answers


Answered on: 10/21/13, 4:58 am by David Anderson

Would need to review document signed to give legal opinion but sounds promising

Does the "guarantor" have assets or income?


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Mahoney Anderson LLC P.O. Box 44504 Eden Prairie, MN 55344

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Answered on: 10/21/13, 6:31 am by Maury Beaulier612.240.8005

It is impossible to evaluate the question without a full review of the contract itself.


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Minnesota Lawyers 5775 Wayzata Blvd., Ste 700 St. Louis Park, MN 55416

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Answered on: 10/21/13, 6:58 am by Tricia Dwyer

Hello. The agreement must be reviewed in order to advise. Please seek attorney counsel.


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Tricia Dwyer Esq & Assoc PLLC Twin Cities Twin Cities To St. Cloud, MN 55404

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