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Recent Posts in Guarantees Category

KNUCKLE SANDWICH?

Lakhani Enterprises's commercial lease provided that it would only use the property as a Quiznos franchise. (Apparently, Lakhani acquired the business from William Simpson and the parties’ ...
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CHRYSTAL BALL?

When Chrystal Run Village sued Debra N. -- a guarantor -- to recover damages in excess of the tenant's security deposit, the Middletown City Court opted to throw out the landlord’s case. ...
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LIVING WITH CONSTRUCTION

Ask Real Estate By RONDA KAYSEN Mom, the Guarantor, Steps In Q. My wife and I own a two-family townhouse. We live in the top two floors and rent out the garden apartment. There is a crawl space that ...
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SCHUMER'S CRUISE SHIP "BILL OF RIGHTS"

SCHUMER CALLS FOR CRUISE SHIP “BILL OF RIGHTS” – WOULD ENSURE SHIPS, EVEN IF THEY ARE REGISTERED IN FOREIGN COUNTRY, HAVE SANITARY CONDITIONS, BACKUP POWER, MEDICAL STAFF Bill Of ...
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ETCHED IN STONE?

When Cold Stone Creamery's subtenant failed to pay rent, Weaver Street Properties, the building's owner, filed suit against its tenant. And after the Westchester County Supreme Court limited Weaver's ...
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I GUARANTY

In 2003, Miller and Grossberg signed a lease guaranty. When that lease was extended in 2005, only Miller and Lerner signed as guarantors. Because the tenant later failed to pay all the rent due, the ...
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FAILLA'S FAIL-SAFE FAILURE

After SBA Partners vacated its commercial space, its former landlord sued to recover rent arrears and other charges totaling $21,235.15. Although SBA's guarantor, Stephanie Failla, didn't answer the ...
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A GUARANTY ONLY GOES SO FAR

After Lo-Ho LLC brought a nonpayment proceeding and was awarded $24,995.91 against its commercial tenant, the tenant's cousin and guarantor -- Santiago Batista -- was sued for all remaining lease ...
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A SHAREHOLDER CLASH

In Cheng v. Young, Show Lain Cheng, her ex-husband Ko-Cheng Cheng, Alan Young, and Nicholas Guzzone were each 25% shareholders in a corporation which owned real property. But in 1986, only Ko-Cheng, ...
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WHEN TOXIC ISN'T TOXIC ENOUGH

In Dell Inc. v. GJF Construction, the rules of suretyship came to Dell's rescue in a convoluted case involving the recovery of unpaid rent. Trinity Centre LLC owns a structure bordering the World ...
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STERLING'S GUARANTY WAS UNTARNISHABLE

Sterling National Bank and Mario J. Biaggi, Jr. entered into a agreement which provided that Biaggi's guaranty was "absolute and unconditional," that he waived any and all rights to assert any ...
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WHEN'S A DEFAULT, A DEFAULT?

Typically, a "default" arises upon a party's breach or noncompliance with a contractual term or condition. And, in order to provide a corrective remedy and avoid a possible forfeiture, many ...
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BIGGER AIN'T ALWAYS BETTER

You've seen these ads. They arrive via e-mail or can be found in some popular magazines and read something like this: If the size of your penis torments you, we have the solution...[o]ur specialized ...
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CONTEMPT FOR BIANCA JAGGER

Last week, Bianca Jagger--international jet-setter, social activist and former spouse of Rolling Stone, Mick--almost went to jail for not paying her rent. (Apparently, Ms. Jagger gave her landlord "no ...
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WHEN'S A GUARANTY, NOT A GUARANTY?

Who would believe that a Madison Avenue Bentley dealership, known for its high-end luxury automobiles, would not only have difficulty paying its rent but would terminate its lease well in advance of ...
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