What is a Personal Guarantee? | Understanding Your Liability
Автор: The Accountants
Загружено: 2025-02-12
Просмотров: 3
Описание:
📊 In this video:
A personal guarantee is a legal obligation where you agree to take responsibility for a debt on behalf of a company or third party. This means that if the original borrower can’t repay the debt, you become liable. Understanding the risks of personal guarantees is crucial before signing one.
💡 What you’ll learn:
What a personal guarantee is – Who is responsible for the debt?
How it shifts liability – What happens if the company can’t pay?
Why you should carefully review personal guarantees – Protecting yourself legally & financially.
📢 Useful Links:
Need expert legal or financial advice? Contact us: https://theaccountants.au/contact/
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