Contract relationships are important in any business setting. As a result, it is important that they are honored and that the parties understand how to enforce them when they are not. Baton Rouge tenants have brought a lawsuit against their landlord asserting the landlord did not honor lease terms contained in the lease between the parties. The tenant company filed a lawsuit against the landlord asserting a breach of the lease terms.
According to the lawsuit, the tenants entered into a commercial lease of property. The lease terms provided for four free months of rent due to a construction grace period. The tenants say they made $366,106.11 in repairs to the building but assert the landlord failed to make structural repairs and uphold lease terms. The tenants are seeking damages as a result of the breach of lease terms in their claim.
Business contracts, such as leases, are an important aspect of any business and its success. When a contract has been breached, it can result in financial injuries and other damages as well. When a business contract dispute arises, it may be possible to recover compensation for the damages suffered by the injured party. In addition, depending on the circumstances, it may be possible to negotiate a resolution or rescind the contract. The situation can determine what solutions and remedies are available and best for the parties so it is important to be familiar with the range of options.
Different legal options are available in different situations which is why having knowledgeable guidance at every phase of the contract process, including negotiation, formation, execution and in disputes situations, can be vital for the success of a business. Many business relationships depend on contract relationships so understanding them is essential.
Source: Louisiana Record, “K&L Real Estate, individual accused of not upholding terms of lease,” Michelle Abella, Jan. 11, 2017