This office lease form states that a guaranty in which a corporate guarantor has the authority of the signatory to bind a corporation. This guaranty gives the guarantor full power, authority and legal right to execute and deliver this guaranty and that this guaranty constitutes the valid and binding obligation of the guarantor.
The Oklahoma Authority of Signatory to Bind the Guarantor refers to the legal power and responsibility given to an individual or entity to enter into agreements or contracts on behalf of a guarantor in the state of Oklahoma. This authority is crucial for ensuring that the guarantor's obligations are properly represented and legally enforceable. In Oklahoma, there are typically two types of authorities for a signatory to bind the guarantor: express authority and implied authority. 1. Express Authority: Express authority is explicitly granted to the signatory through written documentation or an official agreement. This type of authority clearly outlines the signatory's power to act on behalf of the guarantor in specific situations or under certain circumstances. It may involve a power of attorney or a specific clause granting the signatory the authority to bind the guarantor. 2. Implied Authority: Unlike express authority, implied authority is not explicitly stated but is derived from the circumstances, conduct, or relationship between the signatory and the guarantor. This means that the signatory has the authority to act on behalf of the guarantor based on the perceived scope of their responsibilities or the customary practices within their business or industry. It is important to note that the actual authority of a signatory to bind the guarantor can vary based on the nature of the agreement, the specific tasks involved, and the relationship between the parties involved. Therefore, it is crucial for all parties to clearly understand the extent of the signatory's authority before entering into any contractual obligations. In Oklahoma, the authority of a signatory to bind the guarantor is typically determined by state laws, contractual agreements, and common business practices. It is vital for individuals and entities involved in these agreements to consult legal professionals to ensure compliance with relevant regulations and to safeguard their rights and obligations.
