my friend and I leased a kiosk in a mall. i signed the lease as a director. but, my friend owned the company. and we had to leave before the lease ended and we didn't pay. now the mall management want the money. in this case, who is liable for the remaining amount? the company owner or the person who signed the lease?
thank you
2006-09-07 04:19:05 · 3 answers · asked by o_tura 1 in Business & Finance ➔ Small Business
My guess is that they can go after both of you.
2006-09-07 04:26:37 · answer #1 · answered by kitkat 7 · 0⤊ 0⤋
you're continuously answerable for damages you brought about to the sources of yet another, lease signed or in the different case. it truly is beside the point how immediately new tenants moved into the premises. The damages nevertheless exist and performance devalued the sources. Pay up.
2016-11-25 19:06:34 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You gotta read the lease.
My guess is that if you read the fine print, you are both, personally, "jointly and severally" responsible. That means you are both 100% on the hook.
But it depends on the fine print.
2006-09-07 04:21:41 · answer #3 · answered by AngiesHusband 5 · 0⤊ 0⤋