TreatiseTreatise

Friedman on Leases (5th Edition)

 by Milton R. Friedman, Patrick A Randolph, , , ,
 
 Copyright: 2004-2015
 Last Updated: July 2015

 Product Details >> 

Product Details

  • ISBN Number: 1402404093
  • Page Count: 2506
  • Number of Volumes: 3
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“There is no comparable work on the subject.”
– The Business Lawyer

“Must reading and an important reference for all attorneys and every serious executive concerned with contracting for the use of space.”
– Real Estate Law Journal

“[Friedman on Leases is] practical, authoritative, and complete.”
– The Mortgage and Real Estate Executive Report

Friedman on Leases clarifies and analyzes the full range of lease provisions and conceivable landlord-tenant situations to give you unsurpassed practical instruction on how to negotiate and draft airtight agreements that protect your clients’ rights and minimize their liability exposure.

Friedman on Leases includes numerous case decisions with commentary and valuable sample lease clauses and agreements that help you to:

  • Draft, negotiate, and amend every essential document involved in commercial leasing
  • Modify lease provisions for the full variety of landlord-tenant arrangements
  • Anticipate and resolve problematic transaction developments
  • Avoid drafting errors, including omissions, ambiguities, and fatal terminology
  • Understand and deal with difficult issues specific to assignments, subletting, renewals, take-over leases, percentage leases, and other challenging aspects of commercial leasing
  • Proceed wisely in those leasing areas with divided judicial authority or divergent state statutes

Recognized for its balanced coverage of tenant and landlord concerns, Friedman on Leases explains how tenants can obtain a ceiling on their aggregate liability, ensure premises are usable for their purposes before signing a lease, and relax the strictness of the non-assignment clause; and clarifies how the retaliatory eviction doctrine prohibits landlords from evicting tenants for exercising certain legal rights.

Conversely, Friedman on Leases gives details on how landlords can limit their liability for constructive eviction, how a properly constructed survival clause can protect landlords’ interests, how a radius clause in percentage leases can protect landlords when percentage tenants attempt to go too far, how a breakdown clause protects landlords if services are interrupted during repairs, and much more.

  Table of Contents
  Preface
  Preface to the Eleventh Supplement
Chapter 1: Introduction: The History and Nature of a Lease
Chapter 2: The Parties
Chapter 3: The Premises
Chapter 4: The Term—Possession
Chapter 5: Rent
Chapter 6: Percentage Leases
Chapter 7: Assignment, Subletting, and Mortgaging by Tenant
Chapter 8: Mortgages
Chapter 9: Damage and Destruction of Leased Property
Chapter 10: Repairs; and Appendix 10A
Chapter 11: Compliance with Laws
Chapter 12: Landlord’s Services; and Appendix 12A
Chapter 13: Condemnation
Chapter 14: Renewals
  • § 14:1 : In General14-1
    • § 14:1.1 : Impact of Tenant Default on Right to Renew14-16
    • § 14:1.2 : Transferability of Right to Renew upon Tenant’s Assignment or Sublet14-21
    • § 14:1.3 : Provisions for Recomputation of Rent upon Renewal14-25
  • § 14:2 : Notice of Renewal14-46
    • § 14:2.1 : Late Renewal Notice14-57
    • § 14:2.2 : Notice of Non-Renewal14-73
  • § 14:3 : Retention of Possession As Effecting Renewal14-73
    • § 14:3.1 : Cases Distinguishing Between Extensions and Renewals14-76
    • § 14:3.2 : Cases Making No Distinction Between Extensions and Renewals14-84
    • § 14:3.3 : Effect of Statutes14-90
  • § 14:4 : Automatic Renewals14-91
  • § 14:5 : Renewals by Fiduciaries14-95
  • § 14:6 : Effect of Renewal on Previous Lease and Rights Pertaining to It14-101
  • § 14:7 : Retaliatory Eviction14-102
    • § 14:7.1 : Application to Commercial Leases14-114
Chapter 15: Purchase Options
  • § 15:1 : Tenant’s Option to Buy the Premises15-1
  • § 15:2 : Effect of Breach of Lease by Tenant15-27
  • § 15:3 : Assignability of Tenant’s Purchase Option15-30
  • § 15:4 : Extensions and Renewals of Lease15-33
  • § 15:5 : Exercise of Option—Notice—Effect15-40
    • § 15:5.1 : Optionee’s “Interest in Realty”—Doctrine of Relation Back15-55
    • § 15:5.2 : Tenant’s Duty of Good Faith upon Exercise15-63
  • § 15:6 : Tenant’s Right of Refusal15-65
    • § 15:6.1 : Business and Practical Aspects of Tenant’s Right of Refusal15-65
    • § 15:6.2 : In General15-69
      • [A] : Characterization Issues: Perpetuities15-70
      • [B] : Characterization Issues: Impact on Right of Sale of Premises15-73
    • § 15:6.3 : Variations of Standard Refusal Right15-74
    • § 15:6.4 : Certain Transfers May Not Trigger Right of First Refusal15-80
    • § 15:6.5 : Notice Issues15-88
    • § 15:6.6 : Operation of the Right15-91
    • § 15:6.7 : Model Clause15-104
    • § 15:6.8 : Effect of Brokerage Commission on Tenant’s Right to Match Outside Bid15-107
Chapter 16: Default by Tenant; and Appendix 16A
  • § 16:1 : In General16-2
  • § 16:2 : Tenant’s Breach and Forfeiture16-7
    • § 16:2.1 : Notice of Default16-7
    • § 16:2.2 : Forfeiture of Lease Rights16-13
    • § 16:2.3 : Tenant Insolvency As Breach of Lease16-25
    • § 16:2.4 : Impact of Bankruptcy on Landlord’s Remedies for Default16-30
    • § 16:2.5 : Impact of Tenant Default on Subtenant16-42
      • [A] : Bankruptcy Code and Public Housing Evictions16-43
  • § 16:3 : Termination of Lease and Survival of Tenant’s Liability16-44
    • § 16:3.1 : In General16-44
      • [A] : Traditional Rule16-44
      • [B] : Contract-Based Approach to Damages Calculation—Mitigation Requirement16-48
      • [C] : Is There a Trend to Adopt the Contract Approach?16-58
    • § 16:3.2 : Landlord’s Resumption of Possession16-60
    • § 16:3.3 : Landlord’s Reletting As Acceptance of Surrender16-65
    • § 16:3.4 : Landlord’s Duty to Relet After Reentry16-82
  • § 16:4 : Landlord’s Right to Cure Tenant Defaults16-95
    • § 16:4.1 : Default Provisions; Conditional Limitations16-96
  • § 16:5 : Waiver by Landlord of Tenant Default16-104
    • § 16:5.1 : In General16-104
    • § 16:5.2 : Disclaimer of Waiver by Landlord16-119
    • § 16:5.3 : Criticism of the Rules of Waiver16-123
    • § 16:5.4 : Waivers of Jury Trials16-126
      • [A] : Strict Construction of Waivers16-127
      • [B] : Waivers Must Be Conspicuous16-129
      • [C] : Conclusions for Lease Drafting16-129
  • § 16:6 : Effect of Federal Fair Debt Collection Practices Act16-130
  • Appendix 16A : State-by-State Analysis of Landlord’s Duty to Mitigate16-App. 16A-1
    • Table 1: : States Where Duty to Mitigate Is Imposed by StatuteApp. 16A-1
    • Table 2: : States Where Duty to Mitigate Is Recognized in Common-Law DecisionsApp. 16A-19
    • Table 3: : States That Appear to Have Recognized Duty to Mitigate in Common-Law DecisionsApp. 16A-26
    • Table 4: : States That Impose No Duty to Mitigate (Statute or Decision)App. 16A-30
    • Table 5: : States Where Duty to Mitigate Is UncertainApp. 16A-38
Chapter 17: Exculpatory Clauses
Chapter 18: Termination of Lease
  • § 18:1 : Tenant’s Surrender of Possession on Expiration of Lease: Duties Regarding Condition of Premises Upon Surrender18-1
  • § 18:2 : Tenant’s Retention of Possession After End of Lease: Liability for Damages18-27
  • § 18:3 : Landlord’s Notice of Increase in Rent or Other Change in Terms After Expiration of Lease18-35
  • § 18:4 : Holdover Tenancies—In General18-42
    • § 18:4.1 : Terms of New Tenancy Resulting from Holdover18-48
    • § 18:4.2 : Exceptions to Holdover Rule18-52
  • § 18:5 : Lease Provisions Negating Tenant’s Status As Holdover Tenant18-54
  • § 18:6 : Landlord’s Right to Retake Possession by Self-Help18-55
  • § 18:7 : Tenant’s Remedies for Landlord’s Wrongful Eviction18-65
  • § 18:8 : Tenant’s Personal Property Left on Premises18-68
Chapter 19: Take-Over Leases
Chapter 19A: Tenant Bankruptcy
  • § 19A:1 : Automatic Stay of Eviction19A-1
  • § 19A:2 : Tenant’s Decision to Affirm or Reject the Lease19A-2
  • § 19A:3 : Effect of Tenant Rejection19A-4
  • § 19A:4 : Effect of Tenant’s Decision to Affirm and Assume the Lease19A-6
Chapter 20: Distraint, Landlords’ Liens and Tenant Security; and Appendix 20A
  • § 20:1 : In General20-1
  • § 20:2 : Ordinary Security20-4
    • § 20:2.1 : Marketable Securities20-16
    • § 20:2.2 : Security As Lien on the Property20-17
  • § 20:3 : Other Forms of Tenant Security20-18
    • § 20:3.1 : Sums Paid on Execution of Lease As Bonus or in Consideration of Lease or As Advance Rent20-18
    • § 20:3.2 : Other Forms of Tenant Security—Letters of Credit20-25
  • § 20:4 : Nature of Security Deposit—Statutes20-30
  • § 20:5 : Transfer by Landlord or Tenant—Effect on Security20-39
    • § 20:5.1 : Assignment by Tenant20-39
    • § 20:5.2 : Transfer by Landlord20-40
      • [A] : Rights of Tenant Against Grantee20-40
      • [B] : Rights of Grantee Against Landlord20-41
  • § 20:6 : Effect of Federal Income Tax20-43
  • § 20:7 : Security Deposit Clause20-44
  • Appendix 20A : State-by-State Analysis of Security Deposit StatutesApp. 20A-1
Chapter 21: Option to Cancel Lease
  • § 21:1 : Business and Practical Aspects21-1
  • § 21:2 : Effect of Cancellation Right on Validity and Enforceability of Lease21-6
    • § 21:2.1 : In General21-6
    • § 21:2.2 : Common-Law Tenancies at Will21-6
    • § 21:2.3 : Law Of Contracts As Applied Generally To Cancellation Clauses21-9
    • § 21:2.4 : Application Of Cancellation Clauses To The Modern Lease21-10
  • § 21:3 : Operation of Cancellation Clauses in the Modern Lease21-12
    • § 21:3.1 : In General21-12
    • § 21:3.2 : Cancellation on Sale21-13
    • § 21:3.3 : Cancellation for Demolition or Construction21-19
    • § 21:3.4 : Cotenancy Clauses21-21
    • § 21:3.5 : “One Chance” Clause21-23
  • § 21:4 : Notice of Cancellation21-24
Chapter 22: Alterations and Improvements by Tenant
  • § 22:1 : Tenant’s Right to Alter and Improve22-1
    • § 22:1.1 : Introduction22-1
    • § 22:1.2 : English Background of Law of Waste22-3
    • § 22:1.3 : Law of Waste in the United States—Life Tenant and Remainderman—Landlord and Tenant22-5
    • § 22:1.4 : Alterations in Absence of Governing Stipulation22-7
  • § 22:2 : Stipulations22-10
    • § 22:2.1 : Construction of Stipulations22-10
    • § 22:2.2 : Minor Changes22-17
    • § 22:2.3 : Tenant’s Right to Sublet Commercial Space As Authorizing Alterations22-19
  • § 22:3 : Definitions of “Alterations” and “Improvements”22-19
  • § 22:4 : Tenant’s Statutory Right to Alter or Repair22-21
  • § 22:5 : Effect of Tenant Alterations or Improvements on Real Estate Taxes22-24
  • § 22:6 : Tenant Improvements As Taxable Income to Landlord22-27
  • § 22:7 : Business and Practical Aspects of Stipulations Regarding Alterations or Improvements22-29
  • § 22:8 : Is Tenant Entitled to Compensation for Improvements?22-31
  • § 22:9 : Mechanics’ Liens22-40
  • § 22:10 : Model Provision for Alterations and Improvements22-47
Chapter 23: The Work Letter
Chapter 24: Fixtures
Chapter 25: [Reserved]
Chapter 26: Interpretation and Construction of Leases
  • § 26:1 : Foreword26-1
  • § 26:2 : General26-2
  • § 26:3 : Interpretation Versus Construction26-6
  • § 26:4 : Surrounding Circumstances26-8
  • § 26:5 : Rules, Tools, and Maxims of Construction26-17
    • § 26:5.1 : Ambiguity26-18
    • § 26:5.2 : Practical Construction26-28
    • § 26:5.3 : Construction Against Drafter26-33
    • § 26:5.4 : Ejusdem Generis26-39
    • § 26:5.5 : Deletions and Alterations of Lease26-41
    • § 26:5.6 : Grammar and Punctuation26-44
    • § 26:5.7 : Priority of Position26-46
    • § 26:5.8 : Miscellaneous26-47
  • § 26:6 : Stipulations Purporting to Control Interpretation and Construction26-54
Chapter 27: Use of Leased Premises
Chapter 28: Exclusive Uses
Chapter 29: Tenant’s Right to Quiet Possession
Chapter 30: Execution and Delivery
Chapter 31: Recordation of the Lease—Possession As Notice
Chapter 32: Modification of the Lease—Reduction of Rent
Chapter 33: Sign and Advertising Rights
Chapter 34: Contracts to Lease
Chapter 35: Guaranty of Lease
Chapter 36: Transfer of Landlord’s Reversion; and Appendices 36A-36C
Chapter 37: Leases, Licenses, and Easements Compared—Parking Rights, Department Store Concessions, Lodgers, Etc.
Chapter 38: Insurance
Chapter 39: Merger of Leases into the Fee
  Table of Cases
  Index

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