[jtran4321]

Can partial rent be considered "paid in full"?

--------------------------------------------------------------------------------

I have a store in which the rent for the past 3 years has been $9K/month. I have 2 years left on the lease. I've spoken over the phone and have many email correspondence with the leasing director of the realty company about giving me lower rent since the weakening economy due to high energy prices and sub-prime loan debacle have hurt my store sales. Initially, the leasing director was very eager to help me. He actually agreed that my rent was too high and wants to help me stay in business, probably because his company has four vacant unit beside mine right now. But, when I press him to only charge me $5K/month because I tell him it's the absolute best I can do if I'm to remain solvent, he dances around and is very slow to respond to my email for about 5 weeks now. He tells me he's either been too busy or he's spoken to his boss and is just waiting to hear back from him. So, about 2 weeks ago, I sent in a check for $5K for the month of May with an attached letter reminding him that, based on what we've talked about, it's the most I can afford right now. Well, his company cashed the check and it's been a little over 2 weeks now since they've cashed that check and I've yet to hear from him or his company.
My question is: If I wrote on the letter and on the check, " the enclosed amount $5K is considered 'paid in full' for the month of May", can his company later legally sue me for the remaining balance?

Thanks, John

As a follow up to my first question: If my corporation which is the entity of my store bankrupts, can they still come after me?

[RichardBondMan]

I don't think you can tender a ck with a note where you say "paid in full" - it's the written lease that governs the issue. Now if you go belly up or bankrupt then you are protected by the bankruptcy laws unless you gave your personal written indemnity / promise to pay personally. Check you lease to see if you signed personally if the corp doesn't pay.

[Fr_Chuck]

If the corporation was done properly, if when you signed on the lease it was in the corportation name and there was no personal guarntee given in the lease. Many debtors on new coroporations require a personal guarntee on debts and contacts, but as long as you did not give one you are OK. Also you had to properly keep all of the corporation money separate from yours and do all book keeping properly.