One of the requirements of an enforceable lease is that both parties are bound to the terms of the lease. This is called ______.

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15-03-2022
Business

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One of the requirements of an enforceable lease is that both parties are bound to the terms of the lease. This is called ______.

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topeadeniran2 topeadeniran2 · Answer 1 · 2022-03-25T11:41:18+01:00

The scenario where both parties are bound to the terms of the lease illustrates a contract.

What is a lease?

A lease simply means a contractual agreement that calls for the user of a property or asset to pay the owner.

In this case, a requirement of an enforceable lease is that both parties are bound to the terms of the lease and this is termed the contract of the lease.

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