Is Conversion Law only applicable in property and civil cases? When someone “converts” an asset, they restrict access to and management of the asset for the legitimate owner. When money or assets are transferred, the theft of conversion can happen.…
Can a contract prohibit something that is legal? It is entirely possible to make and enforce a contract that forbids you from doing anything that is within your legal rights. One illustration would be a parent offering their child money…
What is a commercial property loan? Commercial property is revenue-earning real estate used for commercial purposes. Commercial property loans, which are mortgages secured by liens on commercial property, are often used to finance the purchase, development, refinancing, and construction of…
Why are commercial real estate loans non-recourse? A non-recourse commercial real estate loan does not give the lender any recourse against the borrower’s personal assets. If the borrower fails to make a payment or violates the terms of the arrangement,…
What is Anticipatory Breach of Contract? An action that indicates a party’s intention to default on its contractual commitments to another party constitutes an anticipatory breach of contract. An anticipatory repudiation is another name for an anticipatory breach. The counterparty’s…
How is “in default” different from a breach in contract law? There isn’t much of a difference between a breach of contract and a default in general legal terminology. Both signify that one of the parties has breached his contractual…
Can my commercial lease be voided if the property is sold? When a commercial building is sold, the tenets do have a list of rights that will often protect them from eviction. Usually, the act of selling the property does…
Can a landlord keep a deposit if a tenant breaks the lease on a commercial property? In most situations, you must give your landlord 30 days’ written notice if you are the tenant and plan to leave. If you don’t,…
When does a commercial lease get voided? Leasing agreements may be void simply due to illegitimate terms. A contract that has been voided is said to be void “on its face,” which means that no one can enforce it. A…
How do the terms of a commercial lease operate? A tenet is given rights to a commercial property through a commercial lease. It’s a legally binding contract that specifies any terms and restrictions you and the landlord (who is frequently…