Letters of intent (LOIs) are frequently used by parties to formalize terms for commercial real estate leases. LOIs are implemented in the beginning stages of a transaction to ensure there is a meeting of the minds on major...more
The old saying goes “if you give them an inch, they’ll take a mile”, but the Court of Appeal has reaffirmed that an independent expert appointed by parties to make a binding determination in relation to their dispute is not...more
In its recent decision in Jahangiri, et al. v. 1830 North Bayshore, LLC, the Third District Court of Appeal asserted that a lease extension option based on “market rate” is insufficient to create a binding and effective...more