Guaranty Plainly Stated It Was Unconditional Guarantee of Payment

September 30, 2016
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Facts: An office building tenant was in default of its lease and subsequently filed for bankruptcy. The lease had been guaranteed. The guarantor hadn’t filed for bankruptcy. When the building’s owner informed the guarantor that it would have to cover the back rent and other lease obligations of the tenant, the guarantor refused. The guarantor claimed that it wasn’t responsible for the lease because the tenant had allegedly been fraudulently induced to sign the lease.

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