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Simple English definitions for legal terms

no-bonus clause

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A quick definition of no-bonus clause:

A no-bonus clause is a part of a lease agreement that limits the damages a tenant can receive if the government takes over the property. It means that the tenant can only receive compensation for any improvements they made to the property and cannot claim the difference between the fixed rent and the market rental value. Condemnation is the act of the government taking over private property for public use, and inverse condemnation is when a property owner seeks compensation for the government taking their property without formal proceedings.

A more thorough explanation:

A no-bonus clause is a provision in a lease agreement that limits the damages a tenant can receive in case of governmental condemnation. This clause prevents the tenant from recovering the difference between the fixed rent and the property's market rental value.

For example, if a tenant has a lease agreement for a property that is condemned by the government, the no-bonus clause would limit the tenant's damages to the value of any improvements made to the property. The tenant would not be able to recover any additional compensation for the loss of the property or the difference between the fixed rent and the market rental value.

This clause is often included in lease agreements to protect landlords from having to pay additional compensation to tenants in case of condemnation. However, it can be disadvantageous for tenants who may lose their property without receiving fair compensation.

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soap
14:18
Cornell
14:19
@HopefullyinLawSchool What's YM?
14:19
oh no
HopefullyInLawSchool
14:19
you mom
WorthlessAttractiveZombie
14:19
Ouch
HopefullyInLawSchool
14:19
your*
14:19
I fear I realized too late
babycat
14:20
another victim claimed
concorde
14:22
pwned
14:22
Might have to send in addendums for that
Dkk
14:26
No wave, so sad.
WorthlessAttractiveZombie
14:28
What are the odds that berk releases later today?
babycat
14:28
@Dkk: And here I thought you were a prophet. Smh.
14:33
@WorthlessAttractiveZombie: 4
WorthlessAttractiveZombie
14:35
@EvolBunny: I will take the odds of 4, very promising
14:38
I'm too drunk to taste this chicken
Dkk
14:38
Lol, I suck I guess. @babycat
14:40
suck what? (:
Dkk
14:42
suck at predicting
14:43
boooooo
1a2b3c4d26z
14:45
hi guys
1a2b3c4d26z
14:45
how is everyone doing this fine friday
1a2b3c4d26z
14:46
Tonight im going to go for a run and lift some weights and then eat some dinner (probably a burrito) and then I'm going to watch a scary movie with my girlfriend (probably Longlegs). I'm so excited :)
1a2b3c4d26z
14:46
What is everyone else doing tonight
1a2b3c4d26z
14:47
Besides YM of course
14:47
Yoooo I’m a lifter too
14:47
I'm all good, I'm tipsy in Zanzibar finishing an app and laughing my ass off to this:
babycat
14:48
renard what are you drinking?
BulbasaurNoLikeCardio
14:50
Feeling like sad drinking tonight, wife accidentally tossed out my truck keys and those are expensive as fuck to replace. The crappiest part is that the key chain had the "remove before flight" tab from my first aircraft's rocket pods overseas from 6 years ago. Then find out people fucked around and back dated reports at work making me look like a shit bag so I am working later tonight and missing range time which is my weekly relax/me time. Add in my sleep meds stopped working, so I am thinking vodka (so I stay skinny and hot) and pizza by the fireplace kind of friday.
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