Legal Question in Business Law in Texas
I'm signing on behalf of a company for loans and I will like a release
the lender is willing to sign the release
I want to make sure that I and my family is hold harmless for any claims by the lender or anyone that the loan gets transferred to, if the company decided to stop paying for the loans
1 Answer from Attorneys
Several things come into play in answering this question.
1) Is it your company
2) If not your company, are you an employee
3) Are you signing an a guarantor or co-signor of the loan
4) is the loan secured via collateral
5) Is the company you are signing for a sole proprietorship or an incorporated company
6) what does the agreement state concerning default
These are just some preliminary questions but you need to have a business or contract attorney review the document to make sure you are not putting yourself in a position where you are personally liable on the debt and your family property can be reached. We do such reviews and we also have several others we can refer you to. [email protected]
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