Continuing Guaranty of Payment of Obligation
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					                    Continuing Guaranty of Payment of Obligation

To:    (Name of Creditor/Seller)
       (Address of Creditor/Seller)

      For and in consideration of the mutual covenants contained in this Agreement,
and other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the undersigned Guarantor agrees as follows:

1.      Guarantor does hereby unconditionally guarantee and promise to pay to (Name
of Creditor), of (street address, city, state, zip code), (the Seller), any indebtedness
incurred on or after (date), by (Name of party whose debt is being guaranteed), of
(street address, city, state, zip code), (the Buyer), by reason of the purchase from Seller
by Buyer of (describe products or merchandise).

2.      Guarantor agrees that this is a continuing guaranty. Unt
Shared By:
Description: A guaranty is an undertaking on the part of one person (the guarantor) that is collateral to an obligation of another person (the debtor or obligor), and which binds the guarantor to performance of the obligation in the event of default by the debtor or obligor. Courts have classified guaranty promises into three kinds. The first is denominated either a general or a special guaranty; the second, either an absolute or a conditional guaranty; and the third, either a continuing or a restricted guaranty. Combinations of these three kinds are also possible. The contract of guaranty may be absolute or it may be conditional. An absolute guaranty is a contract by which the guarantor has promised that if the debtor does not perform the obligation or obligations, the guarantor will perform some act (such as the payment of money) to or for the benefit of the creditor. The guaranty contract is continuing if it contemplates a future course of dealing during an indefinite period, or if it is intended to cover a series of transactions or a succession of credits, or if its purpose is to give to the principal debtor a standing credit to be used by him or her from time to time.
PARTNER William Glover
I received my B.B.A. from the University of Mississippi in 1973 and my J.D. from the University of Mississippi School of Law in 1976. I joined the firm of Wells Marble & Hurst in May 1976 as an Associate and became a Partner in 1979. While at Wells, I supervised all major real estate commercial loan transactions as well as major employment law cases. My practice also involved estate administration and general commercial law. I joined the faculty of Belhaven College, in Jackson, MS, in 1996 as Assistant Professor of Business Administration and College Attorney. While at Belhaven I taught Business Law and Business Ethics in the BBA and MBA programs; Judicial Process and Constitutional Law History for Political Science Department); and Sports Law for the Department of Sports Administration. I am now on the staff of US Legal Forms, Inc., and drafts forms, legal digests, and legal summaries. I am a LTC and was Staff Judge Advocate for the Mississippi State Guard from 2004-2008. I now serve as the Commanding Officer of the 220th MP BN at Camp McCain near Grenada, MS. I served on active duty during Hurricanes Dennis (July, 2005), Katrina (August, 2005) and Gustav in 2008. I played football at the University of Mississippi in 1969-1971 under Coach John Vaught. I am the author of the Sports Law Book (For Coaches and Administrators) and the Sports Law Handbook for Coaches and Administrators (with Legal Forms),