Legal Question in Credit and Debt Law in California

breaking a merchant equipment lease

I was a member of an LLC in CA. I signed a 4-year non-cancellable lease for a credit card merchant machine for the LLC. The LLC is now dissolved and there is 3 years left on the lease. I sent the machine back to the company but they want the $1800. Since I was the one who signed the lease, am I responsible for the amount? If I do not pay it will be my personal credit that is destroyed correct? Any suggestions besides having to pay the full amount of the lease would be appreciated.


Asked on 7/05/00, 2:30 pm

1 Answer from Attorneys
Ken Koury Kenneth P. Koury, Esq.

Re: breaking a merchant equipment lease

It depends how it was signed for. If the lease was to the LLC then you are not responsible unless you personally guaranteed the debt.

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Answered on 9/08/00, 12:39 pm


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