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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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A Primer on Landlord Exculpatory Provisions In Leases
By Marisa L. Byram and Garrett L. Kinkelaar
Keystone Specialty Services Co. v. Ebaugh
Practitioners should take note that depending on the jurisdiction, a well-drafted exculpatory clause may afford additional protections to a commercial landlord, even from its own negligent acts.
Commercial Real Estate Market Sees Shift Toward ‘Densification’ As Firms Look Long Term
By Jessie Yount
Real estate executives say the construction of the office of the future is well underway within the legal industry, despite a dip in leasing activity at the beginning of the year. However, there is a shift toward “densification,” as firms take advantage of favorable market conditions and make longer-term commitments.
Supreme Court Addresses Municipal Sign Regulations, Again
By Steven M. Silverberg
In 2015, the U.S. Supreme Court applied strict scrutiny to a sign regulation as it related to directional signs placed by a local congregation that held services at different locations each week. The Court took another look at the issue of strict scrutiny relating to “off-premises” signs in the case of City of Austin, Texas v. Reagan National Advertising , in which the majority concluded that strict scrutiny should not apply to determining whether the off-premises sign regulations at issue violated the First Amendment.
Commercial Real Estate Market Optimistic
By Paul Bergeron
The commercial real estate industry is having little trouble shrugging off today’s challenging economic situations and its optimism is brewing with recent pandemic restrictions being lifted, according to a state of the market survey from DLA Piper.
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