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1. Whilst a change in the terms of the underlying debt obligation which increases the risk of the guarantee does allow a guarantor to be excused from liability on a guarantee, the change in this situation is not sufficient to give rise to a removal of the liability of your friend on the guarantee. this is because there merely has been an arrangement in relation to outstanding rental monies, for which the guarantor would be liable in any event. There has been no increase in the risk under the guarantee. So I regret to say that your friend would not be excused from his guarantee in this situation.