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ARTICLE · 28 JULY 2022

What Is A Personal Guarantee?

Parlee McLaws LLP
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As a result of being Canada's largest oil and gas producer, having billions of dollars invested in its innovation and tech industry, and its strong financial sector...

CanadaFinance and Banking
Parlee McLaws
Parlee McLaws

As a result of being Canada's largest oil and gas producer, having billions of dollars invested in its innovation and tech industry, and its strong financial sector, Alberta is home to an array of businesses that span across industries. It also provides an abundance of opportunities for individuals who wish to enter the market as potential business owners or investors. However, due to the COVID-19 pandemic and various other external economic factors, commercial activity has faltered. Whether you are one of the many businesses who entered a credit arrangement, an investor looking to sell or purchase a business, or an individual exploring the possibility of a loan, it is important that you are aware of the law around personal guarantees.

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