Lloyd Corporation v. O'CONNOR

This is an action at law on a written guarantee of lease to recover rents and charges. Plaintiff, lessor, entered into a written lease with Karafune Tempura, Ltd., an Oregon corporation. The lessee agreed to pay a stipulated rental, together with other charges. The defendant and some 17 other individuals executed a “Guaranty of Lease” guaranteeing the performance of the lease by the lessee, including the payment of rentals and other charges. The defendant guaranteed payment in an amount equal to 5.88 per cent of the total rent and charges.

Subsequent to the execution of the lease, and during…