Legal Question in Business Law in Minnesota

If somone signs a guarantee that is labeled 'unconditional and absolute' to guarantee a transaction, but the condition of the transaction was not followed, is the guarantor liable for the loss sustained by the party who drafted the guarantee and the transaction? In this case funds were to be deposited into an escrow account but this was not done and the funds were absconded with.

Asked on 10/19/13, 4:27 am

2 Answers from Attorneys

David Anderson Anderson Business Law LLC

A review of the entire document would be required to give you a formal legal opinion, but from what you provided it certainly sounds like a breach of contract.

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Answered on 10/19/13, 4:32 am
Tricia Dwyer Tricia Dwyer Esq & Assoc PLLC

Hello. Further details would need to be known, including, of course, a review of the agreement. Please seek private attorney counsel for your personal legal issues and needs.

Tricia Dwyer Esq

Ph. 612-296-9666

Tricia Dwyer Esq & Assoc PLLC



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Answered on 10/19/13, 6:30 am

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