Continue reading "Case Update: Prét-à-porter penalties"
Case Update: Prét-à-porter penalties
Duncan Brown reviews a case providing a timely reminder when drafting side letters ‘To the extent that the side letter purported to permit the landlord to impose a secondary obligation (the increased rent) upon the happening of any breach of any term in the lease, that secondary obligation was capable of being a penalty.’ The …
Cases Referenced
Cases in bold have further reading - click to view related articles.