Net Realty Holding Trust v. Giannini

The plaintiff landlord, Net, brought an action against the defendant tenant, Giannini, and his assignee of the lease, Upper Cut, Ltd., to recover rent and costs of alterations to the premises claimed to be due under the lease. Upper Cut failed to appear and to answer and was defaulted.1 Giannini claimed to be free of all liability to *274Net by reason of an amendment to his lease by Net and Upper Cut. It is his contention that the amendment constitutes either Net’s acceptance of a surrender of his lease in favor of one with Upper Cut or his release from any suretyship relationship he may have had…