Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4 Sarah and Jemima took a two year lease of premises in the Shopping Center. They started their own organic vegetarian caf. Their enthusiasm made

4 Sarah and Jemima took a two year lease of premises in the Shopping Center. They started their own organic vegetarian caf. Their enthusiasm made up for their lack of experience and soon they were booked out every day for lunch and dinner. Their success was a great achievement given neither of them had every learned to read or write because of some undetected learning difficulties they had as children. As their lease is due to be renewed, they would like to renew it for another five years. Sam, the Center manage, has told them they will only get a new lease with a 200% increase. Sarah and Jemima tried to discuss the matter with him but he is unwilling to negotiate. He tells them that they "can take it or leave it" and points out to them that this is the only shopping Center in town. Sarah and Jemima enter into the new lease but, after struggling with the downtrend in their business, seek to get out of the lease. Sam will not allow them to do so and says they have another four years to run on the lease and that they can either stay there and pay or move out and still pay the balance owing under the lease. Can Sarah and Jemima successfully argue they should be able to avoid this contractual obligation?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Criteria For Electronic Document Management Processes And Associated IT Solutions

Authors: Alexander D Balzer, Dr Klaus-Peter Elpel, Volker Feist

5th Edition

3932898281, 978-3932898280

More Books

Students also viewed these Accounting questions