Failure On Lease To Affirmatively Disclose Agency Results In Personal Liability of Agent
11/12/08
Lease listed tenant as “Tri-Lakes Developers, Inc., ATTN: Jeff Hodges.” Lease went on to state, “By signing this document both parties agree that the total due can be made if [sic] full or monthly payments to cover the condo association fees.” Below this provision Jeff Hodges signed his name below a line which simply said “Jeff Hodges.” No signature block for Tri-Lakes Developers, Inc.,” was provided on the lease. Court of appeals affirmed trial court finding Mr. Hodges personally liable for sums unpaid under the lease. Court of appeals “recognize[d] that ‘execution of contracts in a corporate name that contains an indicia of corporate status, such as ‘Inc.’ or ‘Corp.’ or the like, can be a sufficient disclosure’ of a corporate principal [citation omitted], in this case, the agreement was executed by Jeff Hodges without any such indicia.” Mays v. Hodges, Docket No. SD28600 (Mo.App.S.D. November 12, 2008).
For more information, visit Real Estate.
Back to News
At Swanson Midgley, we listen to our clients' needs in order to help them plan for the future and achieve their goals.
