Miceli, Thomas; Sirmans, C. F.; Turnbull, Geoffrey K. - Department of Economics, University of Connecticut - 2009
The traditional law of leases imposed no duty on landlords to mitigate damages in the event of tenant breach, whereas the modern law of leases does. An economic model of leases, in which absentee tenants may or may not intend to breach, shows that the traditional rule promotes tenant investment...
