Problem Solving

Topics: Renting, Lease, Business Pages: 6 (2089 words) Published: March 4, 2013
Problem Solving

Breach of contract according to the online English dictionary is the failure to perform a term of contract that is either put in written or oral. For example, failure of tenants to pay rent in the agreed time by the landlord, acts which show a party will not be able to complete the agreed work in time, or failure of the landlord to provide security to his tenants. Breach of contract is one of the most common cases of law suits. This paper will evaluate the effect of breach of contract. For example, in the case of Margaret v. Muigai Management Co.; the case examines the duty a landlord owed to her tenant Miss Margaret but on failure of him to provide the conditions as agreed which in this case was to provide the tenants with security, the plaintiff Miss Wills signed for breach of contract. Miss Margaret was sexually assaulted in front of their premise, Ridgeways apartments which was owned by the defendant Nyati oxford and was subsequently being managed by Muigai Managing Company. In similar cases there had been earlier reports that the residence was not safe and so many people had lost their properties to thieves. The case of Charles, in the event that any potential business owner is in the process of leasing a premise, then it is highly recommended that such an individual gets well acquitted with some of the terms that are often used in these processes. This helps one to understand what he or she is getting into and would be a warning signal in case there is any phrase or word of contention and that might bring about misunderstandings later on as seen in Charlie’s case. The lease that is given for any business endeavors or for residential purposes often provides the one Who is leasing with a legal enforcement in as far as the property they are about to partake for use is concerned. These premises whatever use they might be meant for are a crucial part of the renter as well as the landlord therefore the lease should have all the relevant clauses and the basics that would provide a candid assurance to both parties. Some Key Elements of a Lease

It is very important that the following elements appear in the lease so as to cushion the tenant as well as the landlord against any disagreements in the future which are prone to bringing about cases of litigation. The first term is parties to the lease; this basically means that the lease is bound to contain the names of the tenant as well as the landlord. Second is description of property; this is often an address as well as a unit number but in rare cases it could be more than this. Third is the rent amount that has been agreed upon by both parties. Fourth is rent collection terms, which is simply the agreed time that the rent should be paid and at what place. Fifth is, the term of the lease; this lays down the time that the lease is beginning as well as the time it would expire. Seventh is, the termination of the lease; this is the most important term of all because of Charlie’s case, it is clear that the two parties never came to a consensus of this element or the landlord chooses to overlook it. It simply is an element that states clearly in the event that a landlord wants to terminate a leasing contract, how he should go about this, for instance, should he end the lease in the event that the tenant fails to pay rent or when the tenant damages the property. On the other hand it also points out how a tenant might go about the process of ending a lease, for instance how a monthly payment lease should be ended, by a month’s notice or more or how a yearly paid lease should be terminated, by a long time notice or a short time notice. Eighth is security deposits; this is the sum total that a tenant has to pay as a deposit or surety of stay and how this money can be refunded. Ninth is late rent fees; this is the percentage of the whole rent that must be paid by the tenant in the event that he fails to pay his rent on time. Tenth term is utilities; this state’s...

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