Harris Texas Garantía de Pago de Cuenta Abierta - Guaranty of Payment of Open Account

• Category: Garantía - Cuentas abiertas - California
• State: Multi-State
• County: Harris
• Control #: US-FS-872
• Format: Word

Description

Garantía para ayudar a terceros a obtener una cuenta. Harris Texas Guaranty of Payment of Open Account is a legal document that establishes a financial agreement between a business creditor and a guarantor in the state of Texas. This written contract ensures payment for goods or services provided by the creditor to the debtor. The purpose of the Harris Texas Guaranty of Payment of Open Account is to secure prompt settlement of outstanding debts and protect the creditor's interests. By signing this agreement, the guarantor agrees to be held liable for the debtor's unpaid obligations in the event of default. Several types of Harris Texas Guaranty of Payment of Open Account exist, each catering to specific circumstances: 1. Individual Guaranty: This form of guaranty is signed by an individual who agrees to assume responsibility for the debtor's debts. It involves personal assets and creditworthiness. 2. Corporate Guaranty: In this case, a corporation guarantees the payment obligations of the debtor. This type of guaranty relieves the debtor's shareholders or directors from personal liability. 3. Limited Guaranty: Under this agreement, the guarantor's liability is limited to a specific amount or duration of time. It protects the guarantor from unlimited financial exposure. 4. Continuing Guaranty: Unlike a limited guaranty, a continuing guaranty encompasses multiple instances of credit extensions. It remains in effect until formally revoked or terminated. 5. Unconditional Guaranty: This form of guaranty holds the guarantor liable regardless of any prior actions or defenses the debtor may have against the creditor. It provides stronger protection to the creditor, as the guarantor is obliged to pay regardless of the debtor's circumstances. When drafting a Harris Texas Guaranty of Payment of Open Account, it is crucial to include relevant information such as the parties involved (creditor, debtor, and guarantor), the effective date, the amount or credit limit being guaranteed, and any specific conditions or limitations agreed upon. This legal agreement should comply with the laws and regulations of Texas and be carefully reviewed by legal professionals to ensure its enforceability and validity.

Harris Texas Guaranty of Payment of Open Account is a legal document that establishes a financial agreement between a business creditor and a guarantor in the state of Texas. This written contract ensures payment for goods or services provided by the creditor to the debtor. The purpose of the Harris Texas Guaranty of Payment of Open Account is to secure prompt settlement of outstanding debts and protect the creditor's interests. By signing this agreement, the guarantor agrees to be held liable for the debtor's unpaid obligations in the event of default. Several types of Harris Texas Guaranty of Payment of Open Account exist, each catering to specific circumstances: 1. Individual Guaranty: This form of guaranty is signed by an individual who agrees to assume responsibility for the debtor's debts. It involves personal assets and creditworthiness. 2. Corporate Guaranty: In this case, a corporation guarantees the payment obligations of the debtor. This type of guaranty relieves the debtor's shareholders or directors from personal liability. 3. Limited Guaranty: Under this agreement, the guarantor's liability is limited to a specific amount or duration of time. It protects the guarantor from unlimited financial exposure. 4. Continuing Guaranty: Unlike a limited guaranty, a continuing guaranty encompasses multiple instances of credit extensions. It remains in effect until formally revoked or terminated. 5. Unconditional Guaranty: This form of guaranty holds the guarantor liable regardless of any prior actions or defenses the debtor may have against the creditor. It provides stronger protection to the creditor, as the guarantor is obliged to pay regardless of the debtor's circumstances. When drafting a Harris Texas Guaranty of Payment of Open Account, it is crucial to include relevant information such as the parties involved (creditor, debtor, and guarantor), the effective date, the amount or credit limit being guaranteed, and any specific conditions or limitations agreed upon. This legal agreement should comply with the laws and regulations of Texas and be carefully reviewed by legal professionals to ensure its enforceability and validity.

Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.