Add an APA-formatted title page, headers, and page numbers to your answers.
1. What is the distinction between a ÒcommercialÓ and a ÒresidentialÓ lease? How do the differences in use of the leased property 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?
2. 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.
3. In the default provisions of Section 15, what is the landlordÕs duty to ÒmitigateÓ damages? Should the landlord be required by law to mitigate? Explain.
4. Sections 2 and 19 discuss the creation of, and the partiesÕ rights in, the security deposit. Do these rights favor the landlord or the tenant? Is that appropriate? Why or why not?
5. 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?
6. 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?
There are certain similarities between commercial and residential leases, since they are both written agreements for the use of real land. Retail stores, warehouses, offices, parking garages, and restaurants are all examples of commercial leases. Commercial leases often outline what kinds of businesses can operate there (Merrill, 2020). In accordance with the terms of some commercial leases, businesses can only be open on specific days and at specific times. Typically, commercial leases have terms of at least three years and often last for five. After that time frame has passed, the lessee usually has the option to renew. Apartment and home rentals are examples of residential leases. The majority of business uses are prohibited by residential leases, whereas the majority of residential uses are prohibited by commercial leases. The standard length of a residential lease is 12 months, with subsequent months being month-to-month (Shi & Shang, 2021). Because people’s housing is a basic necessity that deserves protection, the law provides certain safeguards for renters underneath a residential lease that don’t apply to residents under a business lease. This is because commercial renters are assumed to have greater resources and experience in negotiations. ContÉ
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