R
rebel6302
Guest
I signed a 3 year lease for the company which I was employed in July, 1999. I was told I had to provide a title so I used V.P. (I am not an officer of the company). I also signed a personal guarantee. I signed these because the owner was out of town. Approximately 1 month later the owner signed a personal guarantee and gave it to the management company with it being agreed upon that it would take the place of the personal guarantee that I had signed.
The company is located in Maryland and I believe it is an LLC. I was only an employee and was let go because of financial problems at the end of April 2000. I am being sued as the President of the company and also as the guaranteer, (the owner is also listed in the suit). I don’t think I am liable for the corporation but do not know how to handle the guarantee because it looks like the management company did not remove my guarantee as they were supposed to. Does it make a difference if I did not give and “consideration” for the guarantee?
I have 15 days to respond to my summons, any advice is appreciated.
The company is located in Maryland and I believe it is an LLC. I was only an employee and was let go because of financial problems at the end of April 2000. I am being sued as the President of the company and also as the guaranteer, (the owner is also listed in the suit). I don’t think I am liable for the corporation but do not know how to handle the guarantee because it looks like the management company did not remove my guarantee as they were supposed to. Does it make a difference if I did not give and “consideration” for the guarantee?
I have 15 days to respond to my summons, any advice is appreciated.