In this paper, you will review the commercial lease agreement provided and respond to questions analyzing the terms of that lease. The paper must be at least 1,200 words and include at least three scholarly sources other than the course textbook and materials.
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Review the provided Commercial Lease Agreement document. Answer the questions below with a minimum of 200 words for each answer (a total of at least 1,200 words), with at least three scholarly sources other than the textbook credited with in-text citations, and with a References page provided. Format the title page, body of work, page numbers, headers, and References page in accordance with current APA formatting guidelines. While Question #6 directly addresses a Biblical worldview, such principles should also inform your answers throughout.
Compose your answers to the questions below in narrative form. Separate each of the following with properly formatted headers.
- What is the distinction between a “commercial” and a “residential” lease? How do the differences in use impact the terms of the lease? In a commercial lease agreement, should the law seek to protect the interests of the commercial tenant more than the interests of the commercial landlord? Why or why not?
- Sections 5 and 6, respectively, impose on the commercial tenant the obligation of making repairs to the leased property, and of making alterations and improvements to the leased property. Should the lease impose these obligations on the tenant, or should such obligations be legally imposed on the commercial landlord? Explain your answer.
- In the default provisions of Section 15, what is the landlord’s duty to “mitigate” damages? Should the landlord be required to mitigate? Explain.
- Sections 2 and 19 discuss the creation of, and the parties’ rights in, the security deposit. Do these rights favor the landlord or the tenant? Is that appropriate? Why or why not?
- Section 29 requires mediation, followed by arbitration, in lieu of litigation, to resolve disputes. What are the advantages and disadvantages of such a provision? How should mediators and arbitrators be selected?
- As a businessperson guided by a Biblical worldview, what changes would you make in this lease to make the terms comport more closely to Scripture?