Repurposing Real Estate Development to Counter Weakened Demand: Know the Risks Before Terminating Contracts
By EsqSocial Corporation 20/10/20
Pacta sunt servanda, i.e., agreements must be kept. This applies in both good economies and bad. Companies considering a modification of their business operations to offset lower revenue must be mindful of existing commercial contracts. Implicit in almost every New York agreement is a covenant of good faith and fair dealing in the course of performance. Output and requirements contracts are an exception, however....
By: Robinson+Cole Construction Law Zone