If corporate officers of a 10 million dollar company sign a personal guarantee for the company, one of two things are happening - the corp officer is an idiot, or they are in the toilet already.
Any attorney will tell you not to sign a personal guarantee. I have only been asked once, I said no, and they came back and said no problem. I have a buddy who owns a tower company with a 44 million line of credit - no personal guarantees. And keeping the corporate veil from being peirced is why we have attornies. Hand them the corporate book, and pay them to keep it current. Don't take your organs to heaven, heaven knows we need them down here! Be an organ donor, sign your donor card today. ----- Original Message ----- From: "Travis Johnson" <t...@ida.net> To: "WISPA General List" <wireless@wispa.org> Sent: Wednesday, November 25, 2009 10:45 AM Subject: Re: [WISPA] Crown Castle > That's not true. Corporate officers are required to sign personal > guarantees for things all the time. Corporate officers of $10M companies. > > Would I sign one for a tower rental, no way. Would I sign one to get a $1M > line of credit at a bank at 1% APR... yes. > > Travis > Microserv > > Steve Barnes wrote: > That is correct you do not want to sign a personal guarantee. That breaks > the corporation shell and you can then be held personally liable for a any > part of the business. > > Steve Barnes > RC-WiFi Wireless Internet Service > > Character cannot be developed in ease and quiet. Only through experience > of trial and suffering can the soul be strengthened, vision cleared, > ambition inspired, and success achieved. > - Helen Keller > > -----Original Message----- > From: wireless-boun...@wispa.org [mailto:wireless-boun...@wispa.org] On > Behalf Of fwatts > Sent: Wednesday, November 25, 2009 11:07 AM > To: WISPA General List > Subject: Re: [WISPA] Crown Castle > > My attorney has always told me not to sign a personal guarantee. If you > are > a corporation and you sign a personal guarantee it creates a way for some > one to say you are no longer acting as a corporation but as a person and > makes it easier for you to be held personaly responsible for other things > having nothing to do with what you signed the guarantee in the first > place. > > Frank > Brightlan LLC -------------------------------------------------------------------------------- WISPA Wants You! Join today! http://signup.wispa.org/ -------------------------------------------------------------------------------- WISPA Wireless List: wireless@wispa.org Subscribe/Unsubscribe: http://lists.wispa.org/mailman/listinfo/wireless Archives: http://lists.wispa.org/pipermail/wireless/
