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If the potential buyer cannot come to agreement on merger terms with the potential seller's management and board of directors describe which two alternatives are still open to the potential buyer.
Guaranty
Guaranty is a legal commitment by a guarantor to pay a debt or perform an obligation if the original debtor fails to do so.
Cosigner
An individual who agrees to be equally responsible for the repayment of a loan if the primary borrower fails to pay.
Voluntary Agreement
A consensual arrangement between parties, often formalized through a contract, without coercion or duress.
Bankruptcy
A judicial process concerning an individual or business that is incapable of paying off its accumulated debts.
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