21:53 Dec 9, 2006 |
English language (monolingual) [PRO] Law/Patents - Law: Contract(s) | |||||||
---|---|---|---|---|---|---|---|
|
| ||||||
| Selected response from: kmtext United Kingdom Local time: 16:13 | ||||||
Grading comment
|
SUMMARY OF ALL EXPLANATIONS PROVIDED | ||||
---|---|---|---|---|
4 | Extending the time of the original lease |
| ||
4 | that shall expire on the date of mutually agreed extension |
|
Extending the time of the original lease Explanation: Basically, what it means is that the lease allows for the tenant and landlord (or landlord's agent) to enter into a semi-formal agreement that the lease will be extended indefinitely under the original terms of the lease and that the tenants will give a month's notice of their intention to vacate the property. |
| |
Grading comment
| ||
Login to enter a peer comment (or grade) |
that shall expire on the date of mutually agreed extension Explanation: The text just says that the Agreement can be extended upon mutual verbal agreement to certain date. I suppose that this date is typically less than a year since the expiry date of the Agreement. Then, if the tenant wants to move out, s/he must tell the landlord at least a month before the date of the verbal extension will expire. Illustration: -Agreement rent period: one year -Start of Agreement: Jan 1, 2006 -Expiry of Agreement: Dec 31, 2006 -On Dec 1, 2006, the tenant wants to stay but cannot commit to long term rent -Verbal agreement: extend the lease to Mar 31, 2007; the tenant pays a quarter of annual rental -If the tenant eventually wants to move out, s/he must express the intention on Feb 28, 2007 at the latest. |
| |
Login to enter a peer comment (or grade) |
Login or register (free and only takes a few minutes) to participate in this question.
You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.