Commercial Property Law - Essay Example

Comments (0) Cite this document
Summary
Commercial Property Law I. Introduction Individuals are free to enter into agreements provided that the object or cause is not contrary to law, public policy and good morals. The conditions embodied in the agreement define the relationship of the parties, including their rights and obligations…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.4% of users find it useful
Commercial Property Law
Read TextPreview

Extract of sample "Commercial Property Law"

Download file to see previous pages Any conflict between the parties shall be resolved in consonance with the tenor of the contract, the spirit and letter of the relevant laws as well as applying common law principles and judicial interpretation rendered by courts or tribunals on similar issues. The interpretation of the parties’ rights and obligation in contractual relationships vary and oftentimes the interest of one party may cloud its judgment thus it is important that independent minds should offer impartial opinions to aid the parties in making informed decisions. It is in this context that our firm was commissioned by Tomes Limited (Tomes) to evaluate its standing in a leasehold agreement whether its posturing against the landlord is valid. The account was assigned to me for appropriate action. II. Factual Background The leasehold contract over an Old Victorian Townhouse was constituted on 1 April 1997 for a period of twenty five years where rent review shall be made at the end of the 5th, 10th and 15th years of the term provided that such intention is communicated to the tenant within the 5th, 10th and 15th years. The break clause option is available to either party provided that notice shall be given to the other party during the first six months of the 15th year. The leasehold states that the “tenant shall put and keep the premises in tenantable repair to include the decorations, wall-surfaces, window frames, glazing, and casements.” The Landlord and Tenant Act 1954 shall be applicable as no effort to exclude its operation was undertaken by the parties. Tomes assumed the lease three years ago and utilizes the demised premises as a book shop—an activity which is not prohibited by the user clause. Its peaceful occupation of the demised properly was interrupted when the landlord demanded that Tomes undertake repair on the cracks in the corners of and right across all the ceilings after a structural inspection revealed that cracking has been caused by flexion of floor joists induced by the load imposed by book shelves. The engineer who conducted the structural investigation concluded that the joists may not have been permanently damaged by the load but nonetheless recommends the installation of steel reinforcement of the joists in the floor voids along with load reduction as the upper floors are not particularly well suited to the demands of book storage. III. The Opposing Views The controversy escalated when the landlord insisted that the reinforcement works as recommended by the engineer should be executed by Tomes pursuant to the repairing covenant and its obligation to repair any damage to the demised premises caused by it. The landlord further argues that without the works, the premises cannot properly be used as a book shop. Tomes disagrees claiming that the repairing covenant covers only cosmetic facade and the installation of steel reinforcement cannot be characterized simply as a cosmetic enhancement but one that requires structural repair. Tomes further refuted the move of the landlord for rent review as the review was not timely initiated within the period specified in the leasehold thus estoppel set in. Tomes suspects that the persistence of the landlord to ascribe fault against it is brought about by his recent acquisition of the controlling share in Volumes Limited (Volumes for brevity), a specialist book-seller which needs new retail premises. It would appear that the landlord wants to get Tomes out of the way to install Volumes in the premises ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Commercial Property Law Essay Example | Topics and Well Written Essays - 2250 words”, n.d.)
Retrieved from https://studentshare.org/law/1428606-landlord-and-tenant
(Commercial Property Law Essay Example | Topics and Well Written Essays - 2250 Words)
https://studentshare.org/law/1428606-landlord-and-tenant.
“Commercial Property Law Essay Example | Topics and Well Written Essays - 2250 Words”, n.d. https://studentshare.org/law/1428606-landlord-and-tenant.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Commercial Property Law

Commercial Law

...when it is in use. Bibliographies Articles/Books/Reports Tan, Cheng-Han, The Unauthorised Agent Perspectives from European and Comparative Law (2009) Case Law First Energy (UK) Ltd v Hungarian International Bank Ltd (1993) B.C.C. 533 Armagas Ltd v. Mundogas SA (The Ocean Frost) (1986) AC 717 Skandinaviska Enskilda Banken AB (Publ), Singapore Branch v Asia Pacific Breweries (Singapore) Pte Ltd and another appeal (2011) SGCA 22 Crabtree-Vickers Pty Ltd v Australian Direct Mail Advertising & Addressing Co Pty Ltd (1975) 133 CLR 72 at 78 Criterion Properties plc v Stratford UK Properties LLC (2004) UKHL 28 Garnac Grain Co. Inc. v. HMF Faure & Fairclough Ltd (1968) AC 1130 at...
13 Pages(3250 words)Research Paper

Intellectual Property Rights in China. Chinese Commercial Legal System: The Trademark Law

...law of 2001 along with the Criminal Law of 2009 can be recognized as the major governing bodies of the Chinese commercial law in relation to foreign IPRs (World Intellectual Property Organization, n.d.). In addition, the Supreme Court has also approved certain major judicial interpretations that are further considered as significant insights for IPR protections in the national context, especially those concerning trademark infringements. The explanations of Supreme Court concerning trademark protection principally involve: “Application of Law in the Trial of Civil Disputes Concerning the Protection of Well-Known Trademarks (2009)”...
11 Pages(2750 words)Essay

Commercial Law

...their property fully. Indemnity An indemnity is the amount of money paid by one person to another as a way of compensation for a certain loss suffered by the second person. The person who pays the money as damage must not be involved in causing the damage. Payments made to the person who suffered the loss include the repairs, cash payments and replacements. In the law of insurance, indemnity rule pays the beneficiary of a policy for the real economic losses up to the amount of money limited by that policy. This implies that the more premiums someone pays to an insurance company, the more money he or she will be paid in case of damage (Proteach, n.d.). The indemnity rule is very important to insurance...
8 Pages(2000 words)Essay

Proactive Commercial Property Management With Reference to UK Law Only assuming a FRI leases

.... M., & Richards, M. B. (2012). Property law handbook 2012-2013. Oxford, Oxford University Press. Pp.198. Abbey, R., & Richards, M. (2009). A Practical Approach to Commercial Conveyancing and Property. Oxford, OUP Oxford. Pp.6. American Law Institute, American Bar Association, & American Law Institute-American Bar Association Committee on Continuing Professional Education. (2009). Manual on commercial leasing in troubled times: forms, checklists, and advice. Philadelphia, Pa, ALI ABA.. pp.70. Boobyer, C. (2004). Leasing and asset finance: the comprehensive guide for practitioners. London, Euromoney Books. Pp.364. Boyce,...
13 Pages(3250 words)Essay

COMMERCIAL LAW

...to the unregistered employees of a company and black cash is used to pay them. 8. Fictional loans 9. Hiding the money at home or other places 10. Tax evasion and also that legalize unreported assets in tax havens. ANTI-MONEY LAUNDERING IN UK Anti-money laundering is a framework within an organization or a financial industry to describe the methods to control and prevent the money laundering. It came into prominence after the formation of FATF (Financial Action Task Force) and after the promotion of a proper anti-money laundering system. This system gained more prominence in 2000 and 2001 after the FATF began identifying countries that were lacking in their anti-money laundering laws, a process that was known as 'name and...
7 Pages(1750 words)Essay

Commercial Property Management in Australia

...Commercial Property Management in Australia Executive Summary One of the most important areas of commercial activity is the property market. The regulation of this area has been a challenge for the legislators in every country around the world. In this context, the reason for the difficulties appeared during the creation of appropriate legal rules can be justified by the existence of many issues in the specific area that cannot be located with accuracy and as a result their regulation is also a very difficult task to perform. Current paper examines specifically the commercial property management in Australia and its interaction with the...
10 Pages(2500 words)Essay

Commercial law

...Exemption Clauses Yates has defined an exemption clause as “a clause in a contract or a term in a notice which appears to exclude or restrict a liability or a legal duty which would otherwise arise.”1 An exemption clause provides an option for a party entering into a contract to eschew a part of or in entirety, the legal obligations that may be due under the contractual terms. The other party, by signing such a contract, agrees not to hold the former liable if certain obligations that would normally be due under the contract are not performed. This report examines exemption clauses and whether the law that currently exists on exemption clauses is in need of reform. There are three specific kinds of exclusion clauses that...
8 Pages(2000 words)Essay

Commercial Law

...Commercial Law Contigrain v Argigus, Hampshire, Industrial, Farmer Giles and Munchy Feed Introduction The legal issues arising under the contracts for the sale of goods between Contigrain and Agrigus as well as the contract between Contigrain and Munchy turn on the question of whether or not the goods in question have effectively passed from the buyer to the seller. The primary legal issues relate to the question of title in each of the cases. The answer to this question will determine whether or not Contigrain is entitled to take possession of the Brazilian peanut extract from the Monrovia and whether or not Contigrain can demand payment in full for the sale of the turnip fibre to Munchy. The purchase...
12 Pages(3000 words)Essay

Commercial law ( commercial contracts )

...which cancels the original offer. A contract is said to be formed only if such counter-offer is accepted. Commercial Contracts –Does it truly mirror the intention of the parties? The common practice is that until acceptance is conveyed to the offeror, it is not valid. Some exceptions in this regard are a) if the offeror has waived the requisite for communication b) when acceptance is communicated by post, it will be effective on posting. Communication sent through fax, telephone, computer, telex or fax is not effective until received by the offeror. Moreover, it is arduous to find when exactly a telex, fax, a message left on a telephone answering machine or e-mail message is actually “received.” Decided case...
6 Pages(1500 words)Essay

Intellectual property project ( Business and Commercial law )

...INTELLECTUAL PROPERTY Learner’s Institute Introduction The invention of new products or production ideas emerges as a result of the creativity of a person(s). Once the new invention is in the market, there emerges a need to protect unauthorized copying of the product or idea. The law that protects a person’s invention such as trademark, patent among others is defined under the intellectual property protection laws. As defined by (Groves, 1997), an intellectual property refers to anything that a particular person(s) has full rights to its ownership. The intellectual property laws have occasionally been violated in the...
2 Pages(500 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Commercial Property Law for FREE!

Contact Us