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CENTER 48 LTD. v. MAY DEPT. STORES

810 A.2d 610 (2002)

355 N.J. Super. 390

CENTER 48 LIMITED PARTNERSHIP, Plaintiff-Respondent, v. The MAY DEPARTMENT STORES COMPANY, Defendant-Appellant.

Superior Court of New Jersey, Appellate Division.

Decided December 5, 2002.

Attorney(s) appearing for the Case

John J. Reilly, Newark, argued the cause for appellant (Gibbons, Del Deo, Dolan, Griffinger & Vecchione, attorneys; Mr. Reilly, Mary L. Frontczak, of the Missouri bar, admitted pro hac vice, and C. Michelle Mitchell-Bromfman, St. Louis, MO, of the Missouri bar, admitted pro hac vice, on the brief).

Robert C. Epstein, Morristown, argued the cause for respondent (Duane Morris, attorneys; Mr. Epstein, on the brief).

Before Judges EICHEN, FALL and WEISSBARD.

The opinion of the court was delivered by WEISSBARD, J.A.D.

In this suit to enforce a guaranty of a lease agreement, we are called upon to decide whether a modification of the underlying lease—whereby the lessor became a long term leaseholder rather than fee owner—operates to discharge the guarantor. We conclude that in order to effect a discharge of the guarantor, an alteration or modification of the underlying...

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