Is Oral Promise for Long-Term Extension Binding on Owner?

Is Oral Promise for Long-Term Extension Binding on Owner?



Q I signed a short-term lease with a “merger” clause for retail space in a strip mall. My business was profitable in that location, and about halfway through the short-term lease, the strip mall's owner and I discussed the possibility of extending the lease by five years when the term was up so that I could continue operating there.

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