Lantz

Defendant Lantz, who executed a guarantee of a lease under which plaintiff’s assignor leased equipment to the lessee, has appealed from a judgment which awarded the plaintiff damages against the lessee, who defaulted, and Lantz.

The guarantor contends that there was no consideration for the guarantee; that repossession of the equipment following the lessee’s default terminated the lease as a matter of law and limited the damages to the rentals accrued to that time; that the award of rental payments accruing after repossession, while the goods were retained, constitutes the enforcement of a penalty; and that the subsequent sale of the equipment constituted an election which barred the recovery of accrued rental payments, and limited plaintiff to the damages for which express provision was made in the event of resale. None of these objections is found tenable on the record in this case and the judgment must be affirmed.

On May 29, 1962, plaintiff’s assignor and Hydro-Tech Western Corporation, signed a lease for a trencher with an 8-inch bucket line, 10-ineh side cutters, and an extra 16-inch bucket line, for a term of 36 months commencing May 15, 1962, and ending May 14, 1965, at…