Announcement

Collapse
No announcement yet.

Termination of agreement by me licensee before the lock-in period

Collapse
X
Collapse

Termination of agreement by me licensee before the lock-in period

Last updated: March 25 2019
1 | Posts
396 | Views
  • Time
  • Show
Clear All
new posts

  • Termination of agreement by me licensee before the lock-in period

    Hi. This pertains to a registered leave and license agreement. We are the licensee of a shop where the lock-in period was 2 years. However, due to high costs and overheads, we are not able to sustain the business and are looking to move out within 9 months of the agreement.

    So, my questions are:

    1) Is the licensor legally right in claiming the rent for the entire period of 2 years?

    2) Can I claim my deposit back? The licensor has already got another party for the shop, and as such there are no damages involved.




  • #2

    #2

    Re : Termination of agreement by me licensee before the lock-in period

    Legally he is correct...why don't you sub lease to third party and then transfer lease once 2yrs is over ?

    Comment

    Tags: None
    Have any questions or thoughts about this?
    Working...
    X