Should we require a personal guaranty from a proprietor or a general partnership?
Answer: This is a good question
and I can answer it both ways. Here are the two arguments: (1) Yes - signing
a personal guaranty makes the debt more real and makes payment more likely.
(2) No - in a sole proprietorship or partnership, the assets of the owner
or owners are not protected from creditors [as they would be if the debtor
were a corporation].