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111-115 BROADWAY LIMITED PARTNERSHIP v. MINTER & GAY

281 A.D.2d 153 (2001)

721 N.Y.S.2d 346

111-115 BROADWAY LIMITED PARTNERSHIP, Appellant, v. MINTER & GAY et al., Respondents, et al., Defendant.

Appellate Division of the Supreme Court of the State of New York, First Department.

Decided March 1, 2001.

Although an individual partner can be held liable for partnership debts where, as here, the partnership is insolvent and its assets are insufficient to pay its debts (see, Helmsley v Cohen, 56 A.D.2d 519), here, there was a clear agreement otherwise. The IAS Court correctly held that the lease amendment, in which the parties expressly continued the individual defendants' personal guarantee of their personal corporation's (PC) lease...

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