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Barber had agreed to sell the plaintiff a leasehold interest in land. He also agreed that he would compel Bowyer, the holder of another lease, to consent to the assignment of that lease. The plaintiff argued that Bowyer was precluded (estopped) from objecting to the assignment, even though he had the legal power to make such an objection.
Assignment [a] is a legal term used in the context of the laws of contract and of property. In both instances, assignment is the process whereby a person, the assignor, transfers rights or benefits to another, the assignee. [1] An assignment may not transfer a duty, burden or detriment without the express agreement of the assignee.
O.P.M. Leasing Services borrowed money to purchase computers that it then leased to corporate customers. The computers and the assignment of the lease, in turn, were used as collateral for the loan. Lease payments were used to service the loan. Lenders included banks, thrifts, insurance companies, and pension funds.
For example, when an assignment of an oil and gas lease expressly provides that any extension or renewal of the lease is subject to an overriding royalty, a new lease that is substantially similar to the first lease and procured by the assignee during the term of the first lease, is regarded, as a matter of law, as an extension of renewal of ...
A leveraged lease or leased lender is a lease in which the lessor puts up some of the money required to purchase the asset and borrows the rest from a lender. [1] The lender is given a senior secured interest on the asset and an assignment of the lease and lease payments.
The tenant will then be entitled to take a portion of the condemnation award equal to 25% of the rent due for the remaining four months of the lease—¤1,000, derived from ¤250 per month for four months. A full taking, however, extinguishes the lease and excuses all rent from that point. The tenant will not be entitled to any portion of the ...
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