What to do about a personal gurantee?

Get Legal Help Today

 Secured with SHA-256 Encryption

What to do about a personal gurantee?

I have an old personal gurantee that has the a name written in the space after I/we the undersigned and a totally different person that signed at the buttom, knowingly that the person who signed at the bottom is not an officer in the corporation and is not part of the company. The business defaulted and the creditor sued the business and the person who signed his personal bank account was garnished and not the other person whos name is the owner of the business and part of the corporation. Is this legal? Is this correct?

Asked on August 15, 2012 under Business Law, Maryland

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Apparently the court felt that the personal guaranty that you have written about is valid against the person that signed it given the fact that the court apparently had a judgment entered against the person who signed the document since there was a resulting wage garnishment.

It is not my call to question a matter with a judgment entered in it. I suggest that you consult with an attorney who practices in the area of contract litigation to assist you in the matter you have written about as soon as possible.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption