Legal Question in Business Law in Nevada

As a Franchise Attorney I can say the following. Assuming you signed the lease personally, you're on the hook until the landlord is able to rent it to someone else. The lease provisions need to be consulted, but generally landlords must bring a suit in court, get a judgment, then try to execute on the judgment. This of course assumes you refuse to pay. Consult with a good business or franchise attorney in your area for specific advice.

Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.

Franchise Foundations, a Professional Corporation

Unfortunately, there is not a simple answer to your question. In short, you may be able to negotiate with respect to the remainder of the lease if you can convince the landlord that his acceptance of your settlement offer will provide more toward his bottom line than any other likely outcome. One way of doing this, for example, may be to give him an accounting that shows that your company may qualify for some form of bankruptcy if he is unwilling to amend the current lease. After all, landlords would rather receive a small fraction of what is stated in a contract if that amount stated could be discharged entirely by a bankruptcy court. This is just one example of how an experienced negotiator can assist you with using objective criteria in order to compel a settlement in your favor.