May 10th, 2007 | 
Author: 
heather t asked:
we took over a corp & it desolved now, there was a personal guarantee made by prior owner with a paint co are we now responsible to pay that debt
Samara Pasillas
we took over a corp & it desolved now, there was a personal guarantee made by prior owner with a paint co are we now responsible to pay that debt
Samara Pasillas
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When you purchased the company, you purchased their assets and liabilities too. Unless it was stated in the purchase agreement that you wouldn’t have to pay for any debt, you probably are responsible for it. But you should contact an attorney anyway.