personal guaranty

The Risks and Benefits of a Personal Guaranty

By / March 24, 2022

Joseph G. Ballstaedt801.365.1021joe@snjlegal.com What is a personal guaranty? A personal guaranty is a legally binding promise that a person will fulfill the financial responsibilities of another. They are generally used to protect lenders or other types of creditors. For example, many lenders require small business owners to sign a personal guaranty as additional assurance of …

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Five Ways to Protect Yourself from and Recover Unpaid Accounts

By / June 2, 2022

Joseph G. Ballstaedt801.365.1021joe@snjlegal.com If you are a business owner, you have agreed to accept and deal with various risks most nine-to-five employees avoid. By showing up for work for specific hours, employees are generally guaranteed to be paid. Business owners, on the other hand, don’t get paid unless a costumer walks in the door, places …

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