Seven-Year Guaranty Means Seven Years But When Does The Counting Start?
When a guaranty says it lasts “the first seven (7) years,” the natural question is: seven years starting when? A recent Illinois appellate decision answered that question in the guarantor’s favor—and trimmed a six-figure judgment in the process. The facts are pretty basic. In May 2016, an LLC signed a roughly ten-year commercial lease in […]
