You can borrow money in the name of the legal representative of the company, or you can provide a guarantee by the company. As long as it does not violate the mandatory provisions of laws and administrative regulations, it is protected by law.
If the legal representative of the company is unable to repay the loan after the loan expires, the creditor may sue the individual and the guarantor to demand the individual to repay the loan, and the guarantor shall bear the corresponding guarantee responsibility. Of course, if the guarantor repays the creditor's rights, he can recover from the guarantor.
Extended data
The legal representative or person in charge of a company is a special "subject". If a loan contract is signed in the name of an individual, not all debts have nothing to do with the company.
Paragraph 2 of Article 23 of the Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases stipulates that the legal representative or responsible person of an enterprise signs a private lending contract with the lender in the name of an individual, and the loan is used for the production and operation of the enterprise, and the lender requests the enterprise and the individual to share the responsibility, and the people's court shall support it.
It can be seen that the legal representative or responsible person of the company borrows money from others in his own name, and the purpose of the loan is very important. Once used in the production and operation of the company, the company will probably need to bear the responsibility together with the legal person * * *.
Baidu encyclopedia-loan contract
Baidu Encyclopedia-Guarantee Contract