Repair and maintenance.The lease should stipulate which party handles routine maintenance and repairs and the process for handling repair requests. Most states have laws limiting the landlord’s right to enter a residential property, so it is common to include a right-to-enter clause describing the...
A lease buyout clause, which is one ofmany clauses you can include in a contract, is a provision that allows a tenant or landlord to prematurely end a lease by paying a predetermined fee. This fee compensates for potential financial loss and inconvenience of finding a new tenant or, in ...
What is the purpose of an administrative clause in contract negotations? What is the difference between an executive and an executory contract? What is the law of scarcity? What is administrative law? Explain. Under what conditions can the law of demand be violated? (a) What are the essentia...
What is an example of a Key Man Clause in music? Key Man Clauses are frequently utilized in registering agreements. First, the clause nominates one or more critical members as necessary to the musical group. Then, when the key members want to discontinue, the Key Man Clause provides the mu...
What is a Lease Purchase Contract? What is a Renewal Option? Discussion Comments ByMarkerrag— On May 16, 2014 @Terrificli -- those option clauses are almost always enforceable. Why? Because both the buyer and seller receive something and that makes the clause enforceable. In the case of ...
A clause is a specific section within a legal document that details a particular point or condition, while a provision is a term or condition in a legal agreement that stipulates obligations, rights, or restrictions.
A hold harmless clause can help limit a renter or leaser of a property from legal liability if someone gets injured or damaged on their property. On the other hand, an apartment lease sometimes comes with a hold harmless clause that says a landlord is not responsible for any damage that's...
A lease is not the transfer of immovable property from one person to another but merely of transfer of rights of possession of a commercial property which can be further leased by the lessee. After the execution of a, the lessee enjoys the possession and rights over the leased property, the...
A lease option is an agreement that gives a renter a choice to purchase the rented property during or at the end of the rental period. It also precludes the owner from offering the property for sale to anyone else. When the term expires, the renter must either exercise the option or forf...
An escalator clause is a contract provision that allows for an increase in agreed-upon wages, prices, or rent under specific conditions.