What is the name of your state? North Carolina
My wife had started a business (LLC) in our area at the beginning of the year. It has now failed and we are looking into the reprocussions to the defunct LLC, primarily what our person obligations might be on a lease we signed. While the lease agreement does not have personal guarantee language, it does have our signatures as tenants even though the lease is in the LLC's name. The only reference to signatures on the lease is that those who sign the lease "are affirming their representation as officers, managers, etc. and have the authority to execute the lease..."
Please help, we're close to being broke and do not want to be a casuality...
My wife had started a business (LLC) in our area at the beginning of the year. It has now failed and we are looking into the reprocussions to the defunct LLC, primarily what our person obligations might be on a lease we signed. While the lease agreement does not have personal guarantee language, it does have our signatures as tenants even though the lease is in the LLC's name. The only reference to signatures on the lease is that those who sign the lease "are affirming their representation as officers, managers, etc. and have the authority to execute the lease..."
Please help, we're close to being broke and do not want to be a casuality...