Understanding Guarantor Responsibilities

Summary

In a guarantee agreement, severally not jointly indicates that each guarantor is individually responsible for their portion of the obligation, rather than sharing the liability equally or collectively. This means that Colin Gaffey and Brendan Gately each guarantee 50% of the obligation separately, not as a combined responsibility. Understanding the terms of such agreements is crucial, especially in California, where contract law governs these arrangements. If you have further questions or need clarification, consulting a legal professional familiar with California contract law is advisable.