Owner Can't Sue for Future Rent Without Acceleration Clause

March 31, 2014
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Facts: After a flood damaged its store in a strip mall, a sporting goods tenant announced that it would be closing its store and moving out. The tenant informed the owner that it was no longer able to get and maintain adequate insurance as required by the lease. The tenant was also concerned that the flooding would occur again, and claimed that the previous owner of the shopping center from whom the tenant first rented its space hadn’t disclosed that the location was in a flood-prone area.

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