Q: What does "Null & Void" mean? Does that absolve both parties of the lease and if so would I be liable for rest of year?
Real Estate:
Can I get clarification as to the use of 'Null and Void' in the following contract stipulation? I would like to know if null and void would 'break the lease' in a way that absolves both the TENANT and the LEASER.
"Owner and Tenant have discussed potential for high traffic and parking.
Tenant agrees that if this business provides a high level of traffic and a high level of parking that
affects the other businesses in this complex, that the owner/management may make this contract
null and void, breaking the lease without refund of deposit and providing a 60 day notice."
A: That would mean the contract has become inoperable due to a term thue each party being released from the contract.
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