How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Maverick Your Own Question
Maverick, Attorney
Category: Business Law
Satisfied Customers: 5749
Experience:  20 years of professional experience
Type Your Business Law Question Here...
Maverick is online now
A new question is answered every 9 seconds

I have a lease remaining 6 years of my business. The business

Resolved Question:

I have a lease remaining 6 years of my business. The business is very slow and I can not pay the rent. If the landlord takes me to court can they demand the $ rent for the remaing term of the lease. How about the judge? would listen to our expplanation at all.
Submitted: 7 years ago.
Category: Business Law
Expert:  Maverick replied 7 years ago.
SInce it is a commercial lease, the terms of the lease will govern this issue. But, yes, the LL can generally get the benefit of his bargain damages, which would be the profits he lost due to your early termination of the lease or failure to pay. However, the LL has a duty to mitigate his damages and if he can put another tenant in the place he should do so.
Customer: replied 7 years ago.
ll our effort to tryto re nogociate the rent will not be accpted in the court.
Expert:  Maverick replied 7 years ago.

If the landlord see that you will not be able to pay the judgment, he may be willing to negotiate the rent with you. The court, on the otherhand, has a duty to follow the law and will rule according to the terms of the contract or if there are no terms, will rule based on common law - which is the benefit of the bargain damages measure that I discussed above.

Customer: replied 7 years ago.
Let's assumw that the reaming rent amount of the lease term is $260,000 will the court giev the right to LL to collect the full amount or judge may reduce the amount owed to LL with the slow economy situation and also if so can we ask the judge to arrange a monthly payment rather then the full amount die to LL
Expert:  Maverick replied 7 years ago.

The landlord would be entitled to get the profit he would have realized on the balance of the rental which would be less than $260k. The court does not have authority to change the terms of a contract if the landlord refuses to agree to such modified terms. However, the court can ask the landlord to mitigate his damages and require the LL to exercise best efforts to find another tenant to take over the balance of the lease and thereby reduce his damage amount.

Maverick and 5 other Business Law Specialists are ready to help you

Related Business Law Questions