Borg Warner Acceptance Corp. v. Shakopee Sports Center, Inc.

SIMONETT, Justice.

We conclude, as did the trial court, that plaintiff-appellant is entitled to summary judgment enforcing a personal guaranty given it by defendants Dobson. The court of appeals’ decision holding that a genuine issue of material fact precluded summary judgment is reversed.

Over a period of years, Shakopee Sports Center, Inc., financed its inventory of boats, motors, and accessories under successive floor plan inventory agreements with plaintiff Borg Warner Acceptance Corporation. As part of the financing arrangement, the shareholders of the Sports Center were required to sign…