Lease Modification Must Be in Writing

Facts: A women’s clothing manufacturing company rented space in an office building. The chief executive officer of the company signed the lease on behalf of the company, gave a security deposit, and executed a “good-guy” guaranty, personally guaranteeing that the company would perform all lease obligations while in actual possession of the premises. The tenant operated in the space for several years, but then asked the owner about the possibility of moving to a smaller space in the building, due to financial difficulties.

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