A.L. Shiran Gooneratne J.

Factual Background

[1] By Plaint dated 01/02/2013 the Plaintiff-Respondent filed this action against the 1st, 2nd and 3rd Defendants, (presently the 3rd Defendant-Appellant), and sought to recover a sum of Rs. 6,701,254/- together with interest on a Lease Agreement, granted to the 1st Defendant, secured by a Guarantee and indemnity of Lease Agreement, by the 2^nd Defendant and the 3^rd Defendant-Appellant, claiming jointly and severally the said sum and the accrued interest.

[2] In the Plaint, the Plaintiff stated that the Plaintiff and the 1st Defendant entered into a Lease Agreement bearing No. C1-09-0011EB dated 22/09/2011, P2. By the said agreement, the Plaintiff leased “the property” (1 Nissan Navara Double Cab) more fully described in the schedule to the Agreement.

[3] The 1st Defendant entered into the aforesaid lease agreement, and the 2nd and 3rd Defendants by Guarantee and Indemnity of Lease Agreement No. C1-09- 0011 jointly and severally undertook to indemnify the Plaintiff against any failure by the 1st Defendant to perform his obligations. When the 1st Defendant failed and neglected to pay to the Plaintiff the rentals due, the Plaintiff terminated t