Legal Question in Business Law in New York

Business Closed but company wants their 3 year contract money

Hi, I live in NY but owned a small

corporation business in NJ last year

for about 2 months. I had signed a 3

year contract with 3rd party for

alarm monitoring service with ADT.

The business was closed in 2 months

and I called ADT to cancel the

service. But the 3rd party wants their

money. Even though the contract

was on Business name but still has

my name and ss# and I have given

them personal guarantee. Business

was a corporation. Can they sue me

or mess up my credit?


Asked on 4/30/09, 4:45 pm

1 Answer from Attorneys
Mark S. Moroknek Kelly & Curtis, PLLC.

Re: Business Closed but company wants their 3 year contract money

The general rule is that a corporate officer who signs a contract as an agent of a disclosed principal ( ie., only on behalf of the corp) will not be personally liable. There are exceptions, also, but in this case, I doubt you would be liable unless the agreement was for a personal use.

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Answered on 5/03/09, 1:19 pm


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