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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 69542
Experience:  Over 5 years in practice
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I was under a personal obligation to pay the outstanding commercial

Resolved Question:

I was under a personal obligation to pay the outstanding commercial rent on an office building when my company went into liquidation. The initial rental had a 5 year period. I have diligently paying an agreed amount since 2011 and approximately half of the rent outstanding has been repaid.
However, the building has been rented out to new tenants for some time, therefore the landlord has had continuation of rent from another source.
Am I still beholden to continue to pay rent for the period outstanding even though the landlord is no longer out of pocket, indeed they have been paid twice by two people during the period
Submitted: 2 years ago.
Category: Law
Expert:  Jo C. replied 2 years ago.
Hi.
Thank you for your question. My name is ***** ***** I will try to help with this.
You mean you were a personal guarantor?
Customer: replied 2 years ago.
It was a rental of a building by my limited company which went into liquidation, but I was asked to giveaway personal guarantee when I entered the agreement
Expert:  Jo C. replied 2 years ago.
Thanks.
In that case, you are right.
You are liable for the breaches of contract of your company but the landlord is under a duty to migitate his loss and has done so. You are only liable for the sum of his loss and he has found a replacement tenant.
Therefore you are not liable to pay if he sued you.
Can I clarify anything for you?
Jo
Customer: replied 2 years ago.
What happens if he has mitigated his loss to a sum greater than I was obligated to. Was he under an obligation to tell me that my obligation has been fulfilled. Accordingly if that the case, does he owe me any money that needs to be returned
Expert:  Jo C. replied 2 years ago.
Yes, if there is no loss then there is no loss and he should not be claiming from you. That is just plain double compensation.
If you can prove that has happened then he does owe you money.
Jo C., Barrister
Category: Law
Satisfied Customers: 69542
Experience: Over 5 years in practice
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