Now let`s look at the pros and cons of a lease: LEASE, contracts. A tenancy agreement is a contract for the ownership and profits of land and rental properties, on the one hand, and compensation for rent or other income on the other; Tray. That`s not the case. Leasing, pr.; or it is a transfer of land and rental houses to a person for life, or years or at their convenience, taking into account a return of rent, or other allowances. Cruise`s Dig. Tit. Rents. The instrument is also known as leasing; and that word sometimes represents the term or time for which it should work; For example, the owner of the land, which contains a quarry, leases the quarry for a period of ten years, then transfers the land “to reserve the quarry until the end of the lease.” In this case, the reserve has remained in effect for the past ten years, although the lease has been terminated by mutual agreement over the past ten years. Years. 8 selections. A. 3 3 9.
2. To enter into such a contract, there must be an owner capable of granting the land; a taker who is able to accept the subsidy and a property that can be granted. See the owner; The tenants. 3. This contract is similar to several others, namely a sale to be what must be sold, a price for which it is sold and the agreement of the parties for both parties. So in a rental agreement must be rented one thing, price or rent, and the agreement of the parties with respect to both. Again, a rental agreement is similar to the lease of a thing, locatio condudio rei, where there is one thing to rent, a price or compensation, called rent, and the agreement and agreement of the parties who respect both. Poth. Caution for a pension, No.
2. 4. Before considering the different parts of a lease, it is fair to say a few words and point out the difference between an agreement or a contract for a lease itself. If a tenancy agreement contains words of the current loss and there are circumstances in which the tenant may have a direct legal interest in the long term, such a contract will be akin to an effective tenancy agreement; but although the words of the present purpose are used, if it appears on the whole that no legal interest was intentional to occur, and that the agreement was only the preparation of a future lease, the construction will be settled by the intention of the parties, and the contract will be held to be no more than an agreement for a lease. 2 T. R. 739. See Co. Litt. 45 b: Bac. Abr.
Leasing, K; 15 wine. Abr. 94, Pl. 2; 1 Leon. 129; 1 Burr. 2209; Cro. Eliz. 156; Id.