Evaluate a Commercial Lease
Think about a time you have rented property in the past. For example you may have rented an apartment rehearsal space or storage space. Perhaps you remember the huge document you signed called a lease? Most likely that document was over 20 pages long contained very small text and was full of complex legal terms. Yet you signed the document and used the leased space. Suppose that something did go wrong while you were leasing the space. Maybe you broke one of the fixtures a hot water heater leak caused a flood or the space burned to the ground in a fire. Now your legal fate will be determined by that a 20-page document in miniature text that you did not even read. What will you do? This example shows why carefully reading and challenging commercial leases are so important. As a public administrator you may have to evaluate or sign a lease as part of your job responsibilities. What things would you want to see in a lease?
To prepare for this assignment:
Review Chapter 9 inThe Study of Law: A Critical Thinking Approach(4th ed.) for an overview of property rental. Carefully examine the vocabulary terms used within this section as you will see them again in more complex resources.
Review the article Uniform Commercial Code: Article 2a. Examine the complexity of the actual law many commercial leases are judged by.
Review the website Findlaw: Overview: Commercial Lease Agreements to examine areas of concern within commercial leases in a way that is easier to understand.
View the Commercial Lease Agreement to explore some areas of concern in a commercial lease.
Identify three potential areas of concern within the lease and consider why each is important.
The assignment (12 pages):
Describe three potential areas of concern within the commercial lease and explain why each is important.
Support your Application Assignment with specific references to all resources used in its preparation. You are asked to provide a reference list for all resources including those in the Learning Resources for this course.
Submit your assignment by Sunday February 12 2017