Updated over 9 years ago on .
Most recent reply
presented by
Colorado Commercial lease
I have a general lease question regarding the enforceability of a clause. Let me condense this as much as I can... I'm happy to elaborate if needed...
Scenario:
Two partner, member managed LLC...
Partner 1 signed original lease for commercial space with authority of both partners and a personal guarantee that was signed by both partners.
Fast forward... Partner 1 now goes and signs a new lease (amendment) without partner 2's okay, and is even the only one on the new personal guarantee.
BUT... the original lease states and I paraphrase... "guarantee is not waived due to any modification, amendment or alteration of the lease whatsoever".
In the state of Colorado, is Partner 2 now "on the hook" for the actions of Partner 1?