Have Legal Questions? Ask a Lawyer Now.
Hi, I'm Thomas and will be happy to assist you. My goal is to make you a very satisfied customer! Thanks in advance for your patience.
If you made a personal guarantee, then you can be sued on the guarantee agreement. Although the agreement is made subject to California law, and CA law will control, the bank can sue you in Florida. Florida courts would simply apply CA law in determining the outcome of the case.
Please let me know if you need any additional information. Thanks.
I haven't received any information.
Sorry. I typed my answer at 6:12 and posted it but this system is not the most user friendly. Here was my answer: "If you made a personal guarantee, then you can be sued on the guarantee agreement. Although the agreement is made subject to California law, and CA law will control, the bank can sue you in Florida. Florida courts would simply apply CA law in determining the outcome of the case."
Please let me know if you need any additional information. Thanks
That's what I thought.
Can I help you with anything else?
What about the fact they said they would send a copy of the lending agreement but never did?
Unfortunately, that doesn't affect the validity of the guaranty agreement. As long as there was consideration (they promised to make the loan or extend it based on your promise to guaranty the loan), then the guaranty agreement is valid.
The only possible defenses if there was consideration are that the statute of limitations has run on the note or on the guaranty agreement.
Please let me know if there's anything else I can help with. If not, I would be grateful if you could please leave me a positive rating for my assistance. Thanks!
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).