May Centers, Inc. v. Paris Croissant of Enfield Square, Inc., Et Al.

Paris Croissant of Enfield Square (defendant) signed a ten-year form lease with May Centers, Inc. (plaintiff) starting April 15, 1986, with individual guarantors (defendants) personally guaranteeing the lease for two years, or longer if Paris was in default 'as of' the second anniversary. Though the lease listed rent as due on the first of each month, Paris consistently paid around the middle of the month and May accepted these late payments without ever declaring default, including a payment on April 20, 1988 — the end of the guaranty's second year. The lease said that not acting on a default was not a waiver if the default 'persists or is repeated.' After Paris stopped paying rent in 1989, May sued Paris and the individual guarantors for breach.