Legal Question in Business Law in New York

Re: Store lease

Usually the officers or shareholders of a corporation sign on the lease. If they never signed on the lease, then they probably are not personally responsible for the rent.

Re: Store lease

One has to be particularly careful with regard to leases for one's businesses. The first question that must be answered is: what does the lease say? But that's not the end of the inquiry.

Is the lease in the name of a corporation, or an unincorporated business? In what capacity did the officers sign? What state's law governs the lease? (and don't assume it's New York - this is a clause buried in the fine print that can come back to haunt an unwary businessperson!)

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