'Flip
Flop' arbitration
A form of arbitration under which the arbitrator bases his award
on the submission he considers most reasonable. It is claimed that
this encourages parties to be more reasonable in their submissions
and reduces polarisation.
Forfeiture
Forfeiture of a lease occurs when the landlord exercises his right
to regain possession against the wishes of the tenant, where there
is a breach in a condition of the lease, or a breach of a covenant.
Freeholder
One holding an estate in "fee simple absolute in possession".
Full
repairing and insuring (FRI) lease
An FRI lease requires the tenant to pay all running costs, eg maintenance,
rates and insurance. |