Premises

The term 'premises' refers to the land and buildings or parts of buildings that are owned or occupied by a person or organization, often used in legal and business contexts. It encompasses the physical location where an activity, business, or residence is conducted. The definition can extend to include the surrounding grounds, outbuildings, and fixtures associated with the primary structure. Its significance lies in establishing boundaries, defining the scope of responsibility and liability, and providing a precise geographical reference for legal documents, contracts, and operational requirements. The term highlights the importance of location for commercial, residential, and legal purposes, focusing on the physical space rather than the activities occurring within it, but with the caveat the usage can also incorporate the activity and goods on the property.

Premises meaning with examples

• The company's liability insurance covered accidents that occurred on the Premises, ensuring protection for both employees and visitors. During the site visit, the inspectors meticulously reviewed the condition of the Premises, noting areas needing improvements and the need for health and safety regulations. The security system alerted the owner of any unauthorized entry on the Premises at any time.
• The lease agreement clearly stated the terms of occupancy, detailing the rights and responsibilities of the tenant regarding the Premises, including maintenance and usage restrictions. The investigation focused on the unauthorized storage of hazardous materials on the industrial Premises, which breached environmental regulations. Despite the strict rules, tenants often failed to keep their rented Premises clean or in good working order.
• A 'No Trespassing' sign was posted at the entrance to the Premises, indicating that unauthorized individuals were prohibited from entering the private property. Fire inspectors conducted regular inspections to ensure the Premises met all safety regulations, including proper fire exits and extinguisher placements. Despite the risks, some people trespassed on the Premises, creating issues for the owners.
• The contract specified that the handover of the goods would take place on the seller's Premises, allowing the buyer to inspect the merchandise before accepting delivery. A severe flood caused extensive damage to the commercial Premises, resulting in significant financial losses and operational disruptions. The Premises are often the subject of litigation.