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The majority of commercial leases include a provision establishing the requirements for the provision of a tenant estoppel certificate following the landlord's request, especially if commercial lending is set to take place. [8] The appropriateness of the statements in a tenant estoppel certificate depends largely on four factors:
Estoppel by convention in English law (also known as estoppel by agreement) occurs where two parties negotiate or operate a contract but make a mistake. If they share an assumption, [37] belief, or understanding of the contract's interpretation or legal effect, then they are bound by it, if: [citation needed]
Estoppel forms part of the rules of equity, which were originally administered in the Chancery courts. Estoppel in English law is a doctrine that may be used in certain situations to prevent a person from relying upon certain rights, or upon a set of facts (e.g. words said or actions performed) which is different from an earlier set of facts.
A certificate of occupancy is a legal document that proves a property is safe to inhabit and meets all code and usage requirements. It is often required for major home renovations or when selling ...
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The landlord and tenant come together to discuss the terms of the exchange (most of the time, the leasing is outlined in a contract). Thus, they have fulfilled the first requirement of consideration. To meet the second element, there must be a mutual exchange. In this case, the landlord provides housing, while the tenant provides rent payment.
High Trees struggled to find tenants for the property and approached Central London Property Trust in January 1940 to request that the rent be lowered. A reduction to £1,250 per year was agreed in writing, though the duration was not specified and no consideration was provided. By 1945, the building was returning to full occupancy.
Hughes v Metropolitan Railway Co [1877] is a House of Lords case considered unremarkable for many years until it was resurrected in 1947 by Lord Denning in the case of Central London Property Trust Ltd v High Trees House Ltd in his development of the doctrine of promissory estoppel. The case was the first known instance of the concept of ...