Contract: The Legal Environment of Business and Online Commerce

Topics: Contract, Renting, Rental agreement Pages: 3 (1227 words) Published: December 8, 2012
Seeing as we take part in many different forms of contracts on a daily basis, they are a big part of our lives; whether it is clicking the “I Accept” button on some software we just downloaded, or signing a 10+ page lease agreement. We make many promises and commitments and it is important to know about the promises we are making on a daily basis. Last year I moved into my first apartment. I had never lived anywhere but with my parents and I was moving in with a friend of mine. We took our time choosing the right apartment and trying to find a good deal, an ideal nice apartment, but not too expensive. My question is: how many people take the time to read every page and every word of a contract before they sign it? I tried, but after you sign/read five pages, you just want to be done, and that is what leads to problems. A contract as defined in The Legal Environment of Business and Online Commerce by Henry Cheeseman is an agreement that is enforceable by a court of law or equity. In other words, do not enter into a contract lightly, especially with how litigious people are these days. They will do anything to try to get some easy money. With this in mind, let us explore a lease contract and my personal experience with my own. I chose to write about my lease because of the problem my roommate and I recently ran into that involved our lease. In January, we were thinking about what we wanted to do when our lease was up on April 5th, so we went to the front office and asked them what our rate would be if we decided to renew our lease. She told us we would get an offer letter from the apartment two months before our lease was up, so we decided to wait for this letter before making any decisions as to what we were going to do. On February 10th (55 days before our lease was up), we got the letter from our apartment with the new offer if we decided to renew our lease. After a few days of discussing it and exploring our other options, we decided not to renew...
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