After reviewing all of the articles that have been posted with this thread, one thing should be very clear to everyone:
DO NOT SIGN A DOCUMENT UNTIL YOU UNDERSTAND ITS CONTENTS!
Take it to a lawyer, take it to an advisor if you do not understand it.
Being a co-signer on a document is, for the most part, the same as being a signer. If the holder of the document cannot come after the primary signer, he can come after the secondary signer. The co-signer of the document is creating a binding, legal contractual relationship between themselves and the other party on the document.
When someone tells you to "sign this," therefore, as a co-signer, you should be just as careful as if you were the primary signer on the document. Once again, re-read the articles that accompany this thread. The dangers of a being an uninformed co-signer are clearly spelled out.
We will finish this thread tomorrow.
DO NOT SIGN A DOCUMENT UNTIL YOU UNDERSTAND ITS CONTENTS!
Take it to a lawyer, take it to an advisor if you do not understand it.
Being a co-signer on a document is, for the most part, the same as being a signer. If the holder of the document cannot come after the primary signer, he can come after the secondary signer. The co-signer of the document is creating a binding, legal contractual relationship between themselves and the other party on the document.
When someone tells you to "sign this," therefore, as a co-signer, you should be just as careful as if you were the primary signer on the document. Once again, re-read the articles that accompany this thread. The dangers of a being an uninformed co-signer are clearly spelled out.
We will finish this thread tomorrow.
NOTE: THE INFORMATION IN THIS BLOG IS NOT LEGAL ADVICE NOR
IS IT INTENDED TO BE LEGAL ADVICE. IF
THE READER HAS ANY LEGAL QUESTIONS, PLEASE REFER TO AN ATTORNEY.
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tausk
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