Legal Question in Business Law in Florida

We opened a restaurant business in June 2009 and found that we no matter what we have done to get people in we are not making it and have no more money to put in. Just as a note this business is incorporated. My question is we have a three year lease and after the month of nov we, and unless some miracle happens we will not have a nickle more to put in anymore not from the business or personally. My biggest concern is the lease and him coming after me for the money. When I say I'm broke I mean I will probally be applying for food stamps broke. How much does being incorporated protect you on the personal level.


Asked on 10/28/09, 9:11 pm

3 Answers from Attorneys
Sarah Grosse Sarah Grosse, Esquire

It matters whether you entered into the lease personally, or whether the lease is in the name of the corporation and you signed as an officer. If the lease is in the corporate name, you should not be personally liable.

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Answered on 11/02/09, 9:26 pm
Lesly Longa Longa Law P.A.

Yes, it depends on whether you personally guaranteed the lease or signed as a corporate officer. Otherwise, unless you are trying to commit fraud, being incorporated should protect you from being personally liable for the corporation's lease.

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Answered on 11/02/09, 10:11 pm
Steven Meyer CPLS, P.A.

If you signed a personal guaranty on the lease, then the landlord has a claim against both your corporation and you personally. You may wish to consider bankruptcy. It would likely wipe out this debt on the lease entirely, and other debts too. We offer a free initial consultation, and I would be happy to discuss the situation with you.

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Answered on 11/04/09, 11:58 pm


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