Rental Agreement
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Rental Agreement
In 2011 my fiancé and I entered into a rental agreement on an apartment. We signed a one year lease agreement with a month to month lease after one year. It also stated that we would need a two hundred dollar deposit and the apartment would be cleaned upon leaving, we would fix any minor holes, stains, or scuffs on the walls, along with shampooing the carpets. The landlords made the offer and we accepted without any problems. If the rental agreement was held up upon inspection we would receive our deposit back.
A simple contract is any oral or written contract that is not required to follow a specific form, or be signed, witnessed, or sealed. The vast majority of contracts entered into by businesses and private individuals are simple contracts, even though some may seem rather complex and go on for many pages. This is the type of contract we entered into by signing our lease to rent the apartment. There was clear intent between the leaser and the leasee. With clear intent it has to be understood clearly by both parties with understanding.
Acceptance of an offer is the clear manifestation of assent to the terms of the offer. For an acceptance to be valid, if must be (1) made by a person to whom the offer was made, (2) unequivocal, and (3) communicated to the offeror. In a meeting before we accepted the offer all of us sat down and both we and the landlord went through the agreement thoroughly so that it was under stood unequivocally. After we went over and understood the terms we accepted and signed the lease.
Once an offer and acceptance are established, the third element of a contract must be examined. A contract is a bargained-for exchange between the parties, and consideration is whatever is being exchanged. The consideration in this instance would be our deposit and monthly payments for the length of the contract. With consideration in mind, I am good with my hands and fixing problems that might arise. We put into the agreement that the leaser would compensate me if I helped him with repairs on other apartments or my own above and beyond minor fixes that other leasees could fix. For example, in our apartment the tile in the bathroom was bad and grew mold continuously no matter how much it was cleaned. With his permission I ripped out the tile and replace it with a tub surround in the shower. You talk about a job! I paid for the materials, tools, and my time, in return, he gave us two months free rent. In this situation we both lived up to the agreement.
A valid contract is one that meets all legal requirements. Its what people generally aim for when they seek to make a contract. Our agreement was signed by both us and landlord, then notarized by a notary.
To have a valid contract, both parties, at the time the contract is made, must have sufficient mental competency to understand the nature and circumstances of the transaction. This does