Percentage Lease
A lease of property in which the rent is based upon the percentage of the sales volume made on the specific premises. There is usually a clause for a minimum rent as well.
Personal Property
Any property which is not real property. Examples include furniture, clothing, and artwork.
Power of Attorney
A written instrument duly signed and executed by an individual which authorizes an agent to act on his behalf to the extent indicated in the document.
Principal
The employer (e.g., landlord) of an agent or broker. This is the agent's or broker's client.
