KEN KIRSCHENBAUM, ESQ
ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE
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Manager signing personal guarantee / Comments on Kelso's nuts / Sign up for Free Webinar
February 9, 2021
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Manager signing personal guarantee
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Ken
We presented a lease agreement to an apartment complex. The manager is not comfortable signing as a personal guarantor? Is that necessary if they fill in all the other holding company entity information? They would like to send back their agreement with a PO, KK agreement attached to it.
Regards,
Alan
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Response
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A manager should not be expected to sign a personal guarantee, though that is an issue for the manger and his employer. From your perspective you'll accept all the personal guarantees you can get. We see guarantees signed all they time by inappropriate people; lower level employees, managers, agents, friends. First of all, you don't need a personal guarantee for the contract to be fully executed and binding. If the signing entity [or person] is credit worthy then you don't need a personal guarantee, and don't expect to get one. After all, you shouldn't expect Neiman Marcus, JC Penny, Tailored Brands, Brooks Bros, Sears and Toys R Us to sign a personal guarantee.
Yes, you guessed it; all the above filed bankruptcy petitions. You would have a better chance if you had a personal guarantee. If you get a job from a new business you should try and get a personal guarantee, from the owner, not a mangers.
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Comments on Kelso's nuts
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Ken
Your response prompted my wife to start playing "make an ugly woman your wife" on the computer. I find it odd because she's beautiful.
Bill C
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Ken
Some people have too much time on their hands
Anthony
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Ken
What happened to Chelsea’s [or Kelsey's or Kelso's] nuts February 2, 2021
Now THAT was informative!! Thanks and keep up the good work. We really enjoy your daily column.
Regards,
Pete
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Webinar announcement: Register now for this informative webinar
Title: Forensic Analysis of Non-Conforming Control Panel(s); the UL issue
When: February 16, 2021 at 12 PM noon ET 1 hour. Will be recorded
Topic: Analysis of risk if using control panels that don't meet UL and NFPA standards
Presented by: Jeffrey Zwirn and Merton Bunker, PE former NFPA employee and Staff Liaison for NFPA 72
Hosted by: Ken Kirschenbaum,Esq
Who should attend: Alarm company owners, AHJs, Nationally Recognized Testing Laboratories and manufacturers
Sign up here: https://attendee.gotowebinar.com/register/7111976972157204240
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NOTICE: K&K has two clients looking to sell alarm accounts. One company is near Orlando FL and the other outskirts of Miami FL. More details in The Alarm Exchange in the Merger and Acquisition category.
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Ken Kirschenbaum,Esq
Kirschenbaum & Kirschenbaum PC
Attorneys at Law
200 Garden City Plaza
Garden City, NY 11530
516 747 6700 x 301
ken@kirschenbaumesq.com
www.KirschenbaumEsq.com
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