Business Hints for Men and WomenCalhoun, A. R. (Alfred Rochefort)
Science
Business Hints for Men and Women
Calhoun, A. R. (Alfred Rochefort)
Business; Commercial law -- United States
A lease is a form of contract between two people, known as
landlord and tenant, for the use of real estate for a period and
at a rental specified in the document.
A verbal lease may be made for a short period, but if for a year
or more, it must be in writing.
A lease should state when, where and to whom the rent is to be
paid.
Each party to a lease, or other form contract should have a copy.
If the premises rented should become unusable by fire or any
action of the elements the tenant is still liable for rent, unless
there is a special clause in the lease providing for such a
contingency.
A tenant cannot, without the written consent of the landlord, use
the rented premises for any other purpose than that stated in the
lease.
AS TO REPAIRS
In some states the law compels the landlord to keep the premises
in habitable repair, but this does not seem to be the rule. It
should be decided, where there is doubt, before signing the lease.
Where it is agreed that the landlord shall keep the premises in
repair, and, after due notice of the fact, he fails to do so, the
tenant may himself make the repairs and deduct the amount from the
rent.
SUBLETTING
If there is no contract to the contrary, the tenant may sublet the
whole or any part of the premises, but this does not release him
from liability for rent.
If the tenant fails to leave the property when his lease has
expired, the owner may make his demand through what is known as a
"notice to quit," which must be served on the tenant in person.
WHAT IS A GUARANTY?
A guaranty is sometimes required to insure the payment of rent.
Plainly, a guaranty is an agreement to assume, under certain
conditions, the liabilities of another.
If a man makes a contract, a lease, or a note, and his personal
resources are not deemed sufficient to secure his performance of
the things agreed to, the other may require that some one, in whom
he has more faith, shall give him a guaranty, or personal security
in writing.
The following might be used as the form for a guaranty for a
lease, contract, note or other obligation of contract:
"For value received, I hereby guarantee
the payment of the within lease (bond or
contract). George L. Roberts."
Short Hills, N. J.
October 1, 1910.
A BILL OF SALE
This is a written agreement by which one person transfers to
another his interest in certain personal property.
The law lays down no rule as to the form.
A bill of sale usually passes where the property paid for is not
immediately removed from the possession of the seller.
This form would answer in any state:
"Bridgeport, Conn., Aug. 2, 1910.
"I have this day sold to Calvin E. Platt,
of New Haven, in this state, my team of
bay horses, with their harness, one family
carriage, and a two-seated cutter.
"Thomas P. Fletcher."
Be sure, where the bill of sale includes many articles, to name
every one of them in the bill.
Public-domain text, read in full here on John Shaqi.
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