Termination Agreement Didn't Extinguish Tenant's Guaranty Obligations

Termination Agreement Didn't Extinguish Tenant's Guaranty Obligations



Facts: As part of its lease for space in a shopping center, a retail tenant signed a guaranty, in which the tenant personally guaranteed payment of rent in the event that the business couldn’t pay. The tenant later encountered financial difficulties and fell behind on its rent. The owner agreed to sign a termination agreement with the tenant, ending the lease.

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