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Personal Guaranty – Jurisdiction

By: Derek Hawkins//May 9, 2016//

Personal Guaranty – Jurisdiction

By: Derek Hawkins//May 9, 2016//

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7th Circuit Court of Appeals

Case Name: Knauf Insulation Inc., v. Southern Brands, Inc., et al

Case No.: 15-3157

Officials: POSNER, KANNE, and HAMILTON, Circuit Judges

Focus: Personal Guaranty – Jurisdiction

Forum selection clause and personal guaranty overcome appellants arguments against proper jurisdiction.

“These arguments have no merit. The guaranty is explicit that it covers future as well as current obligations, for re‐ member that it embraces “all obligations of the DEBTOR to the CREDITOR, howsoever created, … whether … now or hereafter existing, or due or to become due.” Under Indiana law “a continuing guaranty encompasses all transactions, including those arising in the future, that are within the con‐ templation of the agreement,” S‐Mart, Inc. v. Sweetwater Cof‐ fee Co., 744 N.E.2d 580, 587 (Ind. App. 2001)—and the Dowds’ guaranty expressly contemplated liability for future obligations of unknown magnitude.  “

 

Affirmed

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Attorney Derek A. Hawkins is the managing partner at Hawkins Law Offices LLC, where he heads up the firm’s startup law practice. He specializes in business formation, corporate governance, intellectual property protection, private equity and venture capital funding and mergers & acquisitions. Check out the website at www.hawkins-lawoffices.com or contact them at 262-737-8825.

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