When a group of linked charitable organizations seeks financing, its lender must evaluate the likely enforceability of each member's guarantee of its affiliates' obligations using concepts which are very different from conventional analysis used for for-profit corporations. This Article discusses applicable law and suggests several approaches to the problem for lenders, borrowers, and their counsel.
Northern Illinois University Law Review
Wartman, Carl H.
"Enforceability of Guarantees by Charitable Organizations,"
Northern Illinois University Law Review: Vol. 9:
3, Article 2.
Carl H. Wartman, Enforceability of Guarantees by Charitable Organizations, 9 N. Ill. U. L. Rev. 499 (1989).