Legal Question in Business Law in New Jersey
If I sent an email to a vendor saying I personally guarantee that I will pay the Sept/Oct invoices if the LLC I have invested in does not pay the bills, is that legally binding in NJ? If I say to a vendor that I am sure the LLC will pay its invoices and then doesn't (and I have no control over the LLC' finances), can I then be liable to pay the vendor's bills?
Asked on 4/11/10, 1:24 pm
1 Answer from Attorneys
Ronald Cappuccio
Ronald J. Cappuccio, J.D., LL.M.(Tax)
In New Jersey a guarantee of the debt of another must be in writing. If you actually sent the email and it contains guarantee language, you could be liable.
Get a good business attorney to review the situation and the specific wording of the email.
I hope this helps!
Ron Cappuccio
856 665-2121
www.BusinessEsq.com
Answered on 4/17/10, 3:42 pm
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