Failure to Timely Process Lease
A tenant seeking a space for a restaurant submitted a signed lease with a real estate broker. The lease was not signed yet by the building owner. The broker requested additional information such as financial records, business plan, etc. The broker was evaluating other options as well at the time. Somewhere in the process, the broker allegedly led the prospective tenant to believe that the lease was a done deal even though the papers were not signed. The prospective tenant quit his job, moved his family and prepared to start his business. Unfortunately, there was never a signed lease and the space was eventually leased to another party. The Plaintiff sued for a multitude of issues, primarily deceptive trade practices. The suit is for $250,000.