Legal Question in Business Law in Washington
Personal Guaranty
Two partners sign Personal Guaranty. The company defaults on rent. One partner says he is not going to pay 1/2 of the rent. In order to protect his credit rating, partner 2 pays the entire rent and sues Partner 1 for his half in small claims court under a principal of Breach of Contract. Is Partner 2 likely to prevail?
1 Answer from Attorneys
Re: Personal Guaranty
Under the facts you have given, most likely. However, the devil is always in the details. I would want to know how the rental agreement reads and how the personal guarantee reads. I would also want to know why Partner #1 refused to pay, and it could also be relevant (depending on reasons given by partner #1) whether this is in fact a general partnership or some other kind of entity.
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