Legal Question in Credit and Debt Law in Texas

As an employee and officer of a corporation that is dissolved am I personally liable for the corporattion's debt?


Asked on 6/26/12, 1:06 pm

1 Answer from Attorneys
Mark Dunn Mark D. Dunn

Only if you signed the promissory notes, or in some other way agreed to be personally liable for a debt.

Banks often get a "personal guarantee" when a corporation incurs a debt; there are two signature lines, one for Mr. X acting on behalf of the corporation, and one for Mr. X personally. In other words, two separate entities are liable for the debt.

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Answered on 6/27/12, 6:46 am


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