Parties to real estate transactions may be tempted to conclude that a notice of pendency will be available in most instances to protect their rights if things go awry. But while the CPLR's description of actions in which a notice of pendency is permitted sounds both clear-cut and extremely broad, in practice it is neither of those things.
Both litigators and transactional lawyers know the basic drill: specific performance is available for breach of a contract whose subject matter is so unique that money damages will not adequately compensate the non-breaching party. But it does not necessarily follow that specific performance is generally available for breach of an agreement that involves real estate. This article discusses why and suggests some ways parties can achieve more certainty in this regard.
Proxies in voting and support agreements, secured debt instruments, and other corporate documents should be drafted in a manner that fully reflects the intended scope of the parties' proxy relationship.
Block Inc.'s board may have made a bad deal when it acquired music-streaming company Tidal, but that's its right without evidence of bad faith.
Notwithstanding the importance of a lease to the balance sheets of both landlords and tenants, surrender provisions are commonly glossed over and consequences can be detrimental to either side.
As pandemic-related business disruptions continue to appear on dockets statewide, a reversal by the Georgia Court of Appeals has clarified what does, or rather does not, constitute a landlord's acceptance of a tenant's surrendered lease.
Undefined terms of art such as "best efforts" are often utilized in commercial leases, but the interpretation of those terms and the enforceability of the clause, when left to the courts, will turn on how the lease is drafted.
The best and most effective way to drive firm profitability is through influencing partner behavior. The best way to incent the partners is by linking their compensation clearly and directly to the achievement of the firm's business strategy.
A master lease structure is often used where a single landlord and a single tenant intend to lease multiple properties. By using a master lease structure to cover multiple properties as opposed to individual leases, the parties can streamline administration of a large-scale portfolio of properties. However, master lease severance comes with a series of complications.
What are the limits of efforts to rescind or reform an agreement based upon a mistake? Can a mere "Scrivener's Error" during drafting result in a wholesale extinguishing of a lease document?
