Legal Question in Credit and Debt Law in Minnesota

Guaranty-Continuing and absolute note

We made this note in 1987 when we owned co. never cancelled this note when we sold. new owners used same dba as us, so they filed bankruptcy in 2006, said co of note is coming after us, using this note as leverage. This co. we did note with has a different name, which we discovered ourselves. Does this note still valid with new name. we have not charged with this people for 15 yrs.


Asked on 12/10/07, 4:09 pm

1 Answer from Attorneys
David Anderson Anderson Business Law LLC

Re: Guaranty-Continuing and absolute note

I would need to review document, but it is likely you have a number of strong defenses, incl. Statute of Limitations and Lack of Consideration.

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Answered on 12/10/07, 4:21 pm


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