Watch (Read) What You Sign! Interesting Matter Where the Landlord Becomes the Tenant. Trump gets Trumped!
Just a note on an interesting post by the Contracts Prof Blog. Apparently Trump became a tenant in his own building. Signed his own lease, except as the tenant instead as the landlord. The lease is, not surprisingly, very favorable to the landlord. Trump's organization is behind on their rent. Now they are getting evicted.
The lesson is clear. When you draft a contract that is beneficial to you as a party, when circumstances change don't just automatically sign the same contract a take on the obligations of the other party without fully understanding the terms.
I have found that it is unusual for parties to read their contracts until after there is a problem. Sometimes the contract is not what they thought. Thanks to the Contracts Prof for the report!
Sometimes the contract will come back to bite you.
