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When Is a Tenant Excused from Failure to Timely Exercise a Renewal Option?
Suppose a lease gives a tenant an option to renew, but requires that the option be exercised by a specified date. What happens when the tenant exercises the option after the specified date? That issue, which has been litigated in a number of cases, recently reached the Court of Appeals in Baygold Associates, Inc. v. Congregation Yetev Lev of Monsey, Inc. (NYLJ 5/4/12, p. 24., col. 1.). In Baygold, a divided court appeared to narrow the equitable exception the court had previously crafted to the common law rule that would bind the tenant to the express language of the lease.
Prior Case Law
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Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.
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.