Legal Question in Business Law in California

Re: corporation

It depends upon what the lease and guarantee say, but if you signed a personal guarantee, yes.

Re: corporation

If you personally guaranteed the lease and the corporation stops paying, then the landlord can go after you. That's what a personal guarantee means.

Re: corporation

You already answered your own question. That's what 'personal guarantee' means. Try to re-lease, sub-lease, negotiate a cancellation price, etc., rather than get sued for the full remaining term and forced into bankruptcy. If they can't re-lease after you abandon, that is your risk. If others in the corp are also on the hook to be sued, get them to join you in negotiations. If serious about getting counsel to help you, feel free to contact me.

Re: corporation

The precise terms of your guaranty will determine the extent to which your personal assets are at risk if you default on your lease. You certainly could have the lease and guaranty reviewed by an attorney, but it may be obvious from just an initial review.

Your best option will likely be to work with your landlord. It may be possible to help them find another tenant to assume your lease obligations - or if subleasing is permissive under your lease, you can find a subtenant of your own. You might also be able to obtain a rent/term reduction if you're a tenant your landlord would like to keep.

Please feel free to contact me if I can be of additional assistance!

Glenn