Wednesday, January 15, 2014

I have a business with 3 partners a restaurant. The business is not doing well. we have personal gaurantee on the lease. If we break the lea...

Question

I have a business with 3 partners a restaurant. The business is not doing well. we have personal gaurantee on the lease. If we break the lease for the LLC can the ownere come against our house, bank account etc.



Answer

Yes, I would think so if you and the others have each offered your personal

guarantees on this particular lease.



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