Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Is a Tenant's Option to Purchase Assignable?
Last year, a Missouri appellate court affirmed a lower court's holding that where a lease prohibited a tenant from assigning its interest in the lease without the landlord's consent, the tenant also could not assign an option to purchase the real property the tenant was leasing from the landlord, without the landlord's consent. That court held that a tenant's rights under an option to purchase were a covenant that ran with the land, and that the tenant could not assign those rights without the landlord's consent because the lease limited assignment of the lease generally. Megargel Willbrand & Co., LLC v. Fampat Limited Partnership, No. ED 86570, 2006WL956963 (Mo. Ct. App. Apr. 11, 2006)
The court in the Megargel case treated the lease's limitation on assignment as applying to the option to purchase as well as to the remaining provisions of the lease. In other cases, however, courts have held that an option to purchase is a covenant independent from the lease in which that covenant is contained. See, e.g., Holmes v. Harris, 110 A.2d 329, 334 (N.J. Super. Ct. App. Div. 1954) (citing other cases). In the case of such treatment, even where a lease contained a limitation on assignment that applied to the lease generally, the tenant's rights under an option to purchase contained within that lease could be freely assigned.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.