Legal Question in Real Estate Law in Texas
Breach of Contract: Early Closure of Restaurant
I am currently leasing a restaurant
and it has been about 8 years and 8
months. The contract is for 9 years.
Business has been slow and we are
beginning to lose profit so I was
planning on returning the restaurant
to the the original owner. I am listed
under a corporation as the leaser of
the property.
My question is that whether or not
there will be any consequences to
these actions. Also, what difference is
there that I am a part of a
corporation rather than a personal
leaser? Thank you very much.
2 Answers from Attorneys
Re: Breach of Contract: Early Closure of Restaurant
Check to see if you signed a personal guaranty. If so, LL could come after you to personally make good on the remainder of the lease.
Re: Breach of Contract: Early Closure of Restaurant
It would depend on the terms and conditions of the original lease. Call me office for a free initial consultation.
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