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06-26-2008, 02:07 PM
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#1 |
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Junior Member
Last Online:
06-26-2008 02:07 PM Join Date: Jun 2008
Posts: 1
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Credit application wording
A credit application being prepared by our C corporation says: \"The
undersigned jointly and severally promise, agree, and guarantee to pay to...\" and has a single signature line. Does this mean that if I execute the application as a corporate officer that I am also personally liable for the obligation? |
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06-28-2008, 12:18 PM
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#2 |
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Posts: n/a
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Re: Credit application wording
[The
undersigned jointly and severally promise, agree, and guarantee to pay ] jointly and severally promise----means each signer is liable for the full amount, the word guarantee is a bit odd and may imply you are personally guaranteeing payment--ie not just the company. make that point clear among all parties--who is liable... the company only, or the individuals too? |
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