Personal guarantees have become increasingly vital in business, agency, and contractual relationships by providing a safeguard in the event of contract breach or a debtor’s default. A personal guarantee is widely regarded as a promise to pay the debts of a business or individual if such person defaults on their responsibility, thus adding an additional layer of liability. The enforceability of such guarantees, however, is a question with varying answers across the United States.

File Type: pdf
Categories: 2024, Author, Commercial Law World, Volume 38 Issue 1
Tags: international
Author: Kaitlyn H. Ford