Ever since Cummer-Yonge v. Fagot, which held that a guarantor's liability for a tenant's obligations under the lease would be extinguished on the disclaimer of the lease, Canadian landlords and their lawyers have been trying to find ways to obtain better protection against the loss of a tenancy due to bankruptcy.
Read the full article here: Letters of Credit as Security for Tenants; Performance of Lease Obligations- August 19-2002
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