This office lease form states that a guaranty in which a corporate guarantor has the authority of the signatory to bind a corporation. This guaranty gives the guarantor full power, authority and legal right to execute and deliver this guaranty and that this guaranty constitutes the valid and binding obligation of the guarantor.
The Virginia Authority of Signatory to Bind the Guarantor is a legal provision that outlines the powers and responsibilities of individuals or entities authorized to act on behalf of a guarantor in the state of Virginia. This authority is crucial in ensuring that contracts and agreements involving the guarantor are legally binding and enforceable. In Virginia, there are primarily two types of authorities granted to signatories for binding the guarantor: 1. Express Authority: Also referred to as explicit or specific authority, express authority is granted when a guarantor explicitly designates an individual or entity to act as their signatory. This authority may be granted through a power of attorney or an explicit provision in a contract. The designated signatory has the legal capacity to commit the guarantor to contractual obligations and agreements. 2. Apparent Authority: Also known as implied or ostensible authority, apparent authority is when a guarantor leads others to believe that an individual or entity has the authority to act on their behalf, even if such authority has not been explicitly granted. This belief arises due to the guarantor's actions, statements, or past dealings. The signatory, in this case, is perceived as having the authority to bind the guarantor, and third parties may rely on such belief in entering into agreements. Keywords: Virginia Authority, Signatory to Bind, Guarantor, legal provision, contract, enforceable, express authority, specific authority, power of attorney, explicit provision, contractual obligations, agreements, apparent authority, implied authority, ostensible authority, belief, actions, statements, past dealings, third parties. Disclaimer: This response provides a general overview and description of the Virginia Authority of Signatory to Bind the Guarantor but should not be considered legal advice. It is always recommended consulting with a qualified attorney or legal professional for specific guidance and interpretation of relevant laws and regulations.
