Guaranty Corporate

 Continuing Guaranty of Business Indebtedness By Corporate Stockholders
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State:
Multi-State
Control #:
US-01108BG
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Available formats: Word | Rich Text

Description

A corporation is an artificial person that is created by governmental action. The corporation exists in the eyes of the law as a person, separate and distinct from the persons who own the corporation (i.e., the stockholders). This means that the property of the corporation is not owned by the stockholders, but by the corporation. Debts of the corporation are debts of this artificial person, and not of the persons running the corporation or owning shares of stock in it. The shareholders cannot normally be sued as to corporate liabilities. However, in this guaranty, the stockholders of a corporation are personally guaranteeing the debt of the corporation in which they own shares.

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FAQ

What do you mean by continuing guarantee?

What is continuing guarantee and how can it be revoked?

Can a company give corporate guarantee?

How is continuing guarantee different from specific guarantee?

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