This office lease form states and lists the terms for the Demised Premises. It describes the number of lease years plus any partial lease year as well as the commencement of the lease term.
Puerto Rico Precision Drafting Provision Dealing with Definitions Dating the Lease and Defining Terms
Category:
State:
Multi-State
Control #:
US-OL1053
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Word;
PDF
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FAQ
Gross Lease Gross leases are most common for commercial properties such as offices and retail space. The tenant pays a single, flat amount that includes rent, taxes, utilities, and insurance.
To be enforceable in a court of law, a real estate contract must be in writing and must be signed by all parties. The parties must also know that they are entering into a contract and intend to be bound by the terms of the agreement.
The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality. In some states, elements of consideration can be satisfied by a valid substitute.
A contract is not enforceable until an offer is made and the other party accepts the offer. An offer does not technically exist until the requesting party or the offeree has received it. Even after it's been received, the offer can still be changed or terminated any time before acceptance.
A loan contingency clause in a contract defines a condition that must be met or an action that must be taken before a sales agreement becomes binding.
Requirements of a Legally Enforceable Contract These are offer and acceptance, genuine assent, legality, consideration, capacity, and proper form. Offer and Acceptance There must be an agreement composed of an offer and an acceptance upon which to base the contract. The person who makes the offer is termed the offeror.
