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Home / Opinion Digests / Guarantors Liable for Promised Rent Payments (access required)

Guarantors Liable for Promised Rent Payments (access required)

Plaintiff lender wins summary judgment against defendant guarantors on loans to develop a retail site in the Richmond area; once the borrower defaulted on its loan payments, it owed plaintiff the remainder of the rent payments after paying property-related expenses, and the guarantors became liable when the borrower failed to pay the rents to plaintiff. Plaintiff ...