Commercial leases play a crucial role in establishing the relationship between landlords and tenants. However, many tenants in Nova Scotia may not be aware of the potential ramifications of signing a lease agreement without a termination clause. This essay serves as a cautionary tale, highlighting the risks and liabilities commercial tenants may face if their lease agreement lacks a termination clause.
1. Understanding the Termination Clause:
A termination clause in a commercial lease provides tenants with the right to end the lease agreement prematurely, subject to specific conditions or penalties as outlined in the clause. Without a termination clause, tenants may find [read more…]