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Here are 5 things you need to consider when agreeing to an option to extend/renew your commercial lease at “fair market rent”: Will there be a “floor”, or can the exten...
Written by Francine Baker-Sigal and Joseph Grignano (ICSC Shopping Center Legal Update, Vol. 20, Issue 3)
In 1971 the Supreme Court of Canada, through the decision of Highway Properties Ltd. v. Kelly, Douglas and Company Limited, [1971], S.C.R. 562, acknowledged the hybrid nature of commercial leases. Not only are they conveyances of real property, but they are also commercial contracts allowing for the application of contract principles in their interpretation and enforcement.
Read the full article Fundamental Breach- Adding To The Tenant's Arsenal
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