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In The Trustees of Columbia University in the City of New York v. D’Agostino Supermarkets, the New York Court of Appeals unanimously reaffirmed the principle that “parties are free to agree to a liquidated damages clause provided that the clause is neither unconscionable nor contrary to public policy.” However, the judges split 4-3 on the issue of whether the relevant damages clause in a commercial lease was unenforceable as a matter of law because it was so grossly disproportionate to the ascertainable amount due upon full performance.
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Can Landlords and Tenants Stipulate to Rent Regulation?
By Jeffrey Turkel
Legal disputes as to the rent regulated status of an apartment are as old as rent regulation itself. On occasion, landlords and tenants have purported to “agree” in a lease or stipulation as to whether a unit is regulated. This article surveys case law as to how courts treat such agreements.
NY Court Rewrites Rules On Liquidated Damages In Surrender Agreements
By Adam Leitman Bailey and Dov Treiman
In a recent decision, the NY Court of Appeals handed down a decision with a new interpretation of the law of liquidated damages with regard to surrender agreements. Trustees of Columbia v. D’Agostino rewrites the rules of when a tenant simply gives up on the space.
Drawing the Line Between Real Property and Personal Property In the UCC
By Barbara M. Goodstein
The back-and-forth is certainly confusing, but what is clear is that it can be unclear exactly where the line between real property and personal property should be drawn.
Law Firms Looking to Retail Space and Other Office Alternatives Post-Pandemic
By Brenda Sapino Jeffreys
The prospect of using retail space for law offices is the latest adaptation, in addition to innovations such as hoteling and other forms of shared workspace, that may define law firm offices in the future as the COVID-19 pandemic makes a permanent mark on how firms configure and run their offices.
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