August 1, 2024

Liability on a personal guaranty

The terms of a guaranty are to be strictly construed, and the guarantor may not be found liable beyond the express terms of the guaranty. A holdover tenancy, in and of itself, cannot  extend a personal guarantee in the absence of an explicit provision in the guaranty.

Absolute Med. Servs., Inc. v. Garnerville Holding Co., Inc., NY Slip Op 03871 (2d Dep't July 24, 2024)

Here is the decision.