Viewing: personal guarantee

Signing a Personal Guarantee Can Be Surprisingly Costly

When you own a small business, signing personal guarantees often seems like a necessary evil. Unless your company has strong credit, landlords, lenders, and others will often require you to personally guarantee your company's obligations to them. One of the most harrowing experiences I had when I set up my own law firm was signing […] Read More

Revisiting Personal Guarantees

There are a surprising number of cases dealing with whether people who purportedly signed a personal guarantee actually agreed to personally guarantee a contract. Many of the issues I've seen arise when someone signs at the bottom of a contract as "guarantor" rather than signing a separate guarantee document. There's nothing wrong with doing that, […] Read More

Missouri State Contract Cases 2012 (Part 14): Personal Guarantee and the Voluntary Payment Doctrine

The Missouri Court of Appeals, Western District reversed the trial court's grant of summary judgment in favor of Lafarge North America in its claim against Miller, the sole owner of a limited liability company, holding that material facts were in dispute as to whether Miller had agreed to personally guarantee Tiger's obligations. An employee of […] Read More

Missouri State Contract Cases 2012 (Part 09): Personal Guarantee, Rescission, and TCPA

In a case involving two uninsured motorist policies, the Missouri Court of Appeals, Eastern District held that a State Farm policy provided coverage only to the extent that its policy limits exceeded the primary underinsured motorist coverage. Two provisions in the policy were at issue. One read, The most we pay will be the lesser […] Read More