Texas surety law contains obscure procedural rules that can have outsized consequences. Chapter 43 of the Civil Practice and Remedies Code is an important example. Applicability This chapter applies to everything that is a “surety” as defined by the statute. The statute’s definition includes “an endorser, a guarantor, and a drawer of a draft that… Continue Reading
Tag Archives: personal guaranty
Adding Another Target: Personal Guaranties
Posted in CollectionIn general, a personal guaranty makes an individual or individuals liable for an entity’s debts or obligations. A personal guaranty which guarantees a general contractor’s obligations to pay a subcontractor is rarely given, but it is common for the principal(s) of a subcontractor with unestablished credit to personally guarantee the debts and obligations of the… Continue Reading