First do the basic diagnostics. Next time it dies, check to see if you do indeed have spark. If you do, you can reasonably well assume the ignition circuit is working correctly. This leaves you compression and fuel. The fuel pump system on those carburetors is very fragile. The slightest bit of gum, and they stop functioning correctly. A carb rebuild kit costs about $10, $2 for new line, and about $5 for the fuel tank clunker. I'd pull the carburetor inlet side, clean it, and put it back together. Often times, that will get you running again. Check the line and the clunker of course, but don't replace them unless they show clear signs of needing it. Then we get to compression. Not really worried about your cylinders being damaged from a seizure or abrasion (you'd feel it in your pull cord), but a fracture in the crankcase gasket...that's another story. It does happen, and when it does, the engine becomes a hard starter and frequent staller. Examine closely around the crankcase and cylinder base gaskets closely. Use carburetor cleaner on it when its running and see if you detect a vacuum leak. If you cannot do the work yourself, do not bother sending it to the shop for repairs. The cost to fix it will nearly equal the price of purchasing a new one.
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