Pawling Public Radio: This Side of the Law: The Simple Truth, Dangers of Guaranteeing a Loan in the State of New York
By: Joshua T. Reitzas
Partner – Berlandi Nussbaum & Retizas LLP
Thinking about signing a personal guarantee? Perhaps on behalf of a corporation because the company cannot afford to stand on its own without your assistance? Or on behalf of a family member whose credit is terrible? Or even a friend? Well, definitely think again.
Last week, I had the unique privilege of actually arguing in Court the exact opposite sides of the same underlying issue: whether a guarantor has the right to assert a defense on a personal guarantee. Two different clients, argued