Legal Question in Credit and Debt Law in New York

Guarantor Liability

Individual signs a commercial contract in two places, one as a corporate officer and the other as a guarantor, but the contract is a fax of a fax and the guarantor section is just about illegible. Additionally: (a) individual was told to sign in both places, not realizing he was being asked to sign as a guarantor; and, (b) individual never received any notice of default or demands for payment. Is the indiuvidual liable as a guarantor?


Asked on 5/21/07, 4:55 pm

1 Answer from Attorneys
Robert R. Groezinger GroezingerLaw P.C.

Re: Guarantor Liability

A fax is often as good as anything...then why do you not read what you sign.

As to the type of guarantor, you may be a guarantor of collection or of payment..and you may have waived notice in the document.

Read it again.

Good Luck

RRG

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Answered on 5/21/07, 7:03 pm


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