Minnesota Legal Forms Online

Guarantee of Obligations under Asset Purchase Agreement
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This form provides for a guarantor for the oblitgations of a purchaser under an asset purchase agreement. This guarantor is, in effect, a co-signer for an obligation. The guarantor agrees that if any of the payments are late or not paid, they will make the payments. The guarantor also agrees that the guaranty may be enforced without having to first sue the borrower for defaulting on the debt. A mere default by the borrower without any court action will suffice to require the guarantor to make good on the obligation.