Allis-Chalmers Corp. v. Haumont

The plaintiff, Allis-Chalmers Corporation, manufactures farm implements. On December 8, 1977, it entered into a “Dealer Sales and Service Agreement” with M & G Implement, Inc., of Broken Bow, Nebraska. The agreement was executed on behalf of M & G Implement, Inc., by the defendants Glen Haumont, president, Doris J. Haumont, Herman S. Fales, and William E. Shaw. As a part of the transaction, the defendants Haumonts, Fales, William E. Shaw, and Sharon Shaw executed guaranty agreements in which the defendants guaranteed the payment of all obligations of M & G Implement, Inc., to the plaintiff…