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Enforcing A Holding Deposit Agreement, Samuel Beswick
Enforcing A Holding Deposit Agreement, Samuel Beswick
All Faculty Publications
Prospective tenants in England are often asked to put down a holding deposit as a condition of signing a tenancy agreement. A holding deposit is an up-front payment given to the landlord or the landlord’s agent to place a “hold” on the property from being rented to anyone else while the applicant’s references are checked. It is paid after the key terms of the tenancy (for example, the rent amount and move-in date) have been agreed. Its purpose is to give both parties peace-of-mind that the applicant is “locked in” to renting the property.
In a previous contribution to the …
Article 9 And The Characterization And Treatment Of Tenant Security Deposits, R. Wilson Freyermuth, William H. Henning
Article 9 And The Characterization And Treatment Of Tenant Security Deposits, R. Wilson Freyermuth, William H. Henning
Faculty Publications
Each day, thousands of lessees enter into contracts under which they lease either real or personal property. Under the majority of these contracts, the lessee agrees to pay (and does pay) a "security deposit" to the lessor. The lessor typically agrees to refund the deposit at the conclusion of the lease term if the lessee fully performs its obligations under the lease contract. Is Article 9 relevant to this transaction? Has the lessor taken a "security interest" in the lessee's property to secure the lessee's obligations under the lease contract?
In Part I, we highlight two opinions representative of the …
Gone With The Wind, Roger Bernhardt
Gone With The Wind, Roger Bernhardt
Publications
This article reviews what landlords can and can’t do when confronted with an abandoned tenant in California, including considerations of CC 1951.2, security deposits and the impact of the CC 1950.7 mandates to return return the unused part of a security deposit—even when the damages may exceed the security deposit.
Landlords Draws Upon Letters Of Credit In Bankruptcy: Redback Networks V Mayan Networks, 2004, Roger Bernhardt
Landlords Draws Upon Letters Of Credit In Bankruptcy: Redback Networks V Mayan Networks, 2004, Roger Bernhardt
Publications
This article discusses a California case where a landlord was entitled to fully draw down on a tenant’s letter of credit that was smaller than its rent claim and also smaller than a year’s rent.
Nonrefundable Tenant Security Deposits: Kraus V Trinity Mgmt., 2000, Roger Bernhardt
Nonrefundable Tenant Security Deposits: Kraus V Trinity Mgmt., 2000, Roger Bernhardt
Publications
This article discusses and analyzes a California Supreme Court case which held that restitution is the only monetary remedy for improper security deposits.