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BUS 311 BUS311 BUS/311 Critical Analysis of Leasing Agreement Contract

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BUS 311 BUS311 BUS/311 Critical Analysis of Leasing Agreement Contract

Critical Analysis of Leasing Agreement Contract Katherine StewartBUS 311 Business Law I Instructor: Michael Burton December 28, 2018

The contract example I will be writing about in this critical analysis paper is an Apartment Rental Agreement. This Apartment Rental Agreement is a lease contract between the Owner of the Apartments or lessor and the Residents or lessee. The lessee obtains the rightto use the apartment in return for regular rental payments.

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BUS 311 BUS311 BUS/311 Critical Analysis of Leasing Agreement Contract

Critical Analysis of Leasing Agreement Contract Katherine StewartBUS 311 Business Law I Instructor: Michael Burton December 28, 2018

The contract example I will be writing about in this critical analysis paper is an Apartment Rental Agreement. This Apartment Rental Agreement is a lease contract between the Owner of the Apartments or lessor and the Residents or lessee. The lessee obtains the rightto use the apartment in return for regular rental payments.

OFFER

The first element of a legally enforceable agreement is the offer. An offer is the beginning of a contract. One party must propose an arrangement to the other, including definiteterms. When the offer is communicated to the other party, he has the right to accept, reject or amend the offer.

The lease agreement offers a 3 bedroom 2 and ½ bath at $1200.00 per month. A deposit equal to one month’s rent ($1200.00) is required. This offer is conditioned upon the lessee’spromise to pay the deposit and monthly rent on the date agreed upon by both parties.

ACCEPTANCE

The next element is the acceptance. An acceptance must generally be made in the manner specified by the offer. An offer can be accepted in writing, in person or over the phone.

The acceptance must simply be communicated to the offering party, with an obvious declaration that the accepting party intends to be bound by the buyer’s terms. In this case, the lessee must unequivocally and unconditionally accept the terms of the contract.

BUS 311 BUS311 BUS/311 Critical Analysis of Leasing Agreement Contract

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