Asked by Shane 2Wavyy on Jun 19, 2024
Verified
Sparkle Jewelers breaches its lease with Town Mall and vacates the premises six months before the end of the term. In some states, the mall would be required to
A) avoid reletting the premises for six months to recover damages.
B) use reasonable means to find a new tenant.
C) relet the premises to recover any damages.
D) sell the premises to recover any damages.
Reasonable Means
Methods or actions that are considered sensible and practical under the circumstances for achieving a certain goal.
Breaches its Lease
Occurs when one party fails to fulfill their contractual obligations under the terms of a lease agreement.
Premises
A building or land specified in a legal document or agreement, often related to business or residency.
- Elucidate the necessity of reducing damages and the responsibility of the non-violating party to do so.
Verified Answer
KB
Karandeep BainsJun 20, 2024
Final Answer :
B
Explanation :
In many jurisdictions, landlords, including malls, are required to mitigate damages when a tenant breaches a lease by using reasonable efforts to relet the premises. This means the mall would need to actively seek a new tenant to minimize the financial loss resulting from the breach.
Learning Objectives
- Elucidate the necessity of reducing damages and the responsibility of the non-violating party to do so.