A “good guy guaranty” is generally understood to be a limited personal guaranty for a lease obligation – an obligation that applies only to the time the entity tenant remains in occupancy prior to the return of the leased premises to the owner/landlord, at which point the personal obligation/liability ends.
“Good guy” and other guaranties are often the subject of contentious litigation. Six recent in Supreme Court, New York County, examples follow:
ET 46 Main St. LLC v. Lord & Guy, LLC, 2016 NY Slip Op 31473(U) (Sup. Ct. N.Y. Co., Kern, J.) [decided on July 27, 2016] Continue reading