Legal Question in Business Law in Oklahoma
Personal Guarantee
Is some form of consideration required to validate a personal guarantee?
Asked on 9/22/08, 6:55 pm
1 Answer from Attorneys
Wayne Allison
Allison Legal, LLC
Re: Personal Guarantee
If the guaranty is made at the same time as the original obligation, no consideration is required; if made later, consideration is required. (15 OS 323)
Answered on 9/23/08, 9:39 pm
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