i sold my business in November of 2014 and had a pas due balance with the land lord the new company has been paying on time.

Get Legal Help Today

 Secured with SHA-256 Encryption

i sold my business in November of 2014 and had a pas due balance with the land lord the new company has been paying on time.

i just received a settlement for the amount i owe however the landlord is only agreeing to settlement if i become a assignor and guarantor on the new lease. my lease is done with this company as of July of 2015. Can they do that? can they not accept my settlement if i don’t sign on the new lease ?

Asked on October 26, 2015 under Business Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

If you are paying every dime of what you owe, then they have no right to insist on any additional conditions; paying the full amount fully resolves the claim, and they are not entitled to anything else. However, if the settlement involves paying less than the full amount due, they do not have to accept it--accepting less than all the money due is voluntary, since they have a right to insist on full payment. Therefore, they can put conditions on the settlement, such as that you will guaranty a new lease.


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