By Adam Leitman Bailey Q. A Shareholder in our building claims that some valuables he kept in a storage room in the basement of our co-op were stolen after the lock to his storage space was allegedly broken. He is threatening to sue the co-op for “the failure to properly secure the premises.” He is Full Article…
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Defining When “Time is of the Essence”
By: Adam Leitman Bailey & John M. Desiderio May 9th, 2007 The Court of Appeals has recently reemphasized, for sellers’ attorneys, the importance of drafting clear and unequivocal “time of the essence” clauses in those real estate contracts where circumstances justify conditioning the sale upon the buyer’s timely performance of one or more stated conditions. Full Article…
Letting Go of Leases and Allowing Licenses
By: Adam Leitman Bailey & Dov Treiman May 1st, 2005 Why Licenses? Inevitably, when courts seek to readjust the balance between landowners and non-owner occupants, owners’ counsel will reach into the ancient common-law toolbox to find occupancy arrangements that give owners the panoply of rights and remedies they thought they enjoyed as landlords. In the movie Jurassic Park, Full Article…
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