Wisconsin Assignment of Principal Obligation and Guaranty

State:
Multi-State
Control #:
US-1089BG
Format:
Word; 
Rich Text
Instant download

Description

A guaranty is a contract under which one person agrees to pay a debt or perform a duty if the other person who is bound to pay the debt or perform the duty fails to do so. Usually, the party receiving the guaranty will first try to collect or obtain performance from the debtor before trying to collect from the one making the guaranty (guarantor).

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FAQ

244.10 Termination of power of attorney or agent's authority. (1) A power of attorney terminates when any of the following occurs: (a) The principal dies. (b) The principal becomes incapacitated, if the power of attorney so provides.

(b) Exercise authority under a power of attorney to create in an individual to whom the agent owes a legal obligation of support, an interest in the principal's property, whether by gift, right of survivorship, beneficiary designation, disclaimer, or otherwise.

No person whose operating privilege has been duly suspended under the laws of this state may operate a motor vehicle upon any highway in this state during the period of suspension or in violation of any restriction on an occupational license issued to the person during the period of suspension.

942 Cross-reference Cross-reference: See definitions in s. 939.22. 942.01 Defamation. (1) Whoever with intent to defame communicates any defamatory matter to a 3rd person without the consent of the person defamed is guilty of a Class A misdemeanor.

Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to stocks and bonds authorizes the agent to do all of the following: (1) Buy, sell, and exchange stocks and bonds.

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Wisconsin Assignment of Principal Obligation and Guaranty