Contracts — two separate documents, guaranty

Posted January 22, 2018 4:34 PM

Where a guaranty and a lease agreement are two separate transactions, a new consideration is required for the guaranty to be enforceable.The 1st District Appellate Court affirmed the decision of Cook County Circuit Judge Brigid Mary McGrath.Southern Cross Food Ltd. executed a lease on a site to be used as a Quizno’s sandwich shop, with L.D.S. LLC as the landlord. Southern Cross was the franchisee and contracted the lease. The lease, dated March 31, 2006, was executed on July 20, 2006. Brendan Skehan signed the lease as …

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