This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.
New York Express Covenants
Category:
State:
Multi-State
Control #:
US-OG-792
Format:
Word;
Rich Text
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How to fill out Express Covenants?
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FAQ
In New York, a restrictive covenant is considered enforceable if the employer can show that: (1) the restriction is no greater than what is required to protect the employer's legitimate interest, (2) the restriction does not create an undue hardship for the employee, and (3) the restriction does not harm the public.
It is a settled principle of New York law that ?all contracts imply a covenant of good faith and fair dealing in the course of performance.? 511 W. 232nd Owners Corp. v. Jennifer Realty Co., 98 N.Y.
This means that, even though not specifically stated in the contract, it is implied or understood that each party to the contract must act in good faith and deal fairly with the other party in performing or enforcing the terms of the contract.
?New York law implies a covenant of good faith and fair dealing in every contract ?pursuant to which neither party to a contract shall do anything which has the effect of destroying or injuring the right of the other party to receive the fruits of the contract.
In property law, the covenant of quiet enjoyment is an implied term in every lease that the tenant shall have quiet and peaceful possession of the leased premises against the lessor. The covenant ensures that the landlord is bound to refrain from action which interrupts the tenant's beneficial enjoyment.
Elements of good faith Whether as an expressed or implied term, good faith calls for the usual obligations of supporting a contractual bargain which are as follows: acting honestly ? the central element of good faith. acting with fidelity to the bargain, which means to contribute to the contractual benefits.
Implied covenant of good faith and fair dealing (often simplified to good faith) is a rule used by most courts in the United States that requires every party in a contract to implement the agreement as intended, not using means to undercut the purpose of the transaction.
Implied covenant of good faith and fair dealing (often simplified to good faith) is a rule used by most courts in the United States that requires every party in a contract to implement the agreement as intended, not using means to undercut the purpose of the transaction.
