landlord fron witholding money from a security deposit except for the following reasons:1) For unpaid rent;2) For cleaning the rental unit when the tenant moves out, but only to make the unit as clean as it was when the tenant first moved in,3) For repair of damages, other than normal wear and tear, caused by the tenant or the tenant's guests; and 4) If the lease or rental agreement allows it, for the cost of restoring or replacing furniture, furnishings, or other items of personal property (including
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Running Head: T&W Building Co v. Merrillville Sport & Fitness Inc. T&W Building Co v. Merrillville Sport & Fitness Inc. Keller Graduate School of Management Professor: James Keenan Business Law: Strategic Considerations for Managers & Owners April 2013 Parties T&W Building Company, the landlord, the defendant in the case. Merrillville Sport & Fitness, INC., the tenant, the plaintiff in the case. Facts T&W Building Company entered into a five-year
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Week 4 Assignment 47.1 Gift For 12 years, Theodore Alexander Buder’s father made substantial gifts to his minor grandchildren. Theodore Buder and his wife divorced during this period. The cash gifts, typically in the form of checks made directly payable to the children, were given to Buder with the understanding that he would safeguard the money and invest it on behalf of the children. Buder invested various amounts of the children’s money in “blue chip” stocks traded over the New York and American
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Types of Business Writing Dear Ms. Talbot, Our company would like to schedule a meeting with you to discuss the project that is currently on the drawing board. Your insight into this venture will be much appreciated. Mr. Boss would be honored if you can join him for lunch at the King Charles Hotel on River Street, this Wednesday, at 2:30pm. Also attending would be a Mr. Rory Webster who is our assistant manager. Please let me know if you are available and if the meeting would fit your busy
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increased rental fees (due to increase in the CPI) should be included in minimum lease payments. According to FASB ASC paragraph 840-10-25-5, “minimum lease payments comprise the payments that the lessee is obligated to make or can be required to make in connection with the leased property”. Annual rent of $1 million is the stipulated payments that the lessee is obligated to make, so that it should be included in minimum lease payments. In regard to the probable increased rental fees (due to
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Landlord tenant laws, are all state laws the same? The purpose of this paper is to develop an understanding of landlord tenant laws and make a comparison between several states. The majority of the information used in this paper will come from the States of Ohio, West Virginia, and Pennsylvania. However, there are some court cases from other states that will be examined as well. The most important thing for all parties involved to understand is exactly what is expected of them and for
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Introduction In this assignment I’m going to discuss about the problems arose between the parties, advice to the parties and look into the possibilities available for the parties. The main problem arose in this question is on lease and license. Throughout this assignment I have discussed the difference between lease agreement and license agreement, formalities and characteristics of lease agreement and license agreement with deciding Common Law cases and also legal rights nd equitable rights available
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HOW RENTING AN APARTMENT VERSUS BUYING A HOME BENEFITS ONE’S FINANCIAL PLAN TOWARDS PURCHASING A HOME IN THE FUTURE. How Renting an Apartment Versus Buying a Home Benefits One’s Financial Plan towards Purchasing In The Futu We apprehend a vast amount about renting an apartment versus buying a home. Each advantage and disadvantage is deluged with persuasion on the process of making renting or buying as uncomplicated as possible. Many individuals do not believe renting is the better alternative
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1. Some tenants would support rent control laws because they could be making a good amount of money and live in a very cheap apartment. New York city is one of the priciest places to live and people making above average salaries a year would be in favor of renting out these cheap apartments. Not all of the tenants gain from rent control laws because they could be making a low salary every year and not have access to these apartments because wealthier people are occupying them for longer and have
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Case 9-4 How should NeedsSpace account for the two obligations noted as provisions in the lease agreement? ● Provision 1: “Lessor may require the lessee to perform general repairs and maintenance on the leased premises.” By entering the lease agreement, NeedsSpace (the lessee) becomes legally and contractually responsible for performing general repair and maintenance on the leased premises. Assuming that the lessee is required to make deposits to financially protect the lessor concerning
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