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An automatic renewal clause is used in the insurance and healthcare industries . An automatic renewal clause (also referred to as an evergreen clause), is activated towards the end of the contractual period whereby it automatically renews the terms of an agreement except when the contract is terminated (through mutual agreement or contract breach), or one of the contracting parties has sent a ...
He didn't renew our lease." Faust — who said he paid about $9,000 per month including utilities for the 1,800-square-foot space — said he's still in business and hoping to find a new location ...
A residential lease must include the parties, the premises (the address or relevant space), and the term of the lease. The lease term can be indefinite but must be stipulated as such in the document. Typically, leases will also include the price of rent per month or per term, but this is not legally required.
In view of the wording of section 1(2)(b) of the present Act, the tenant will only have to prove, after the initial ten year-period, that the landlord's successor—and he must be an onerous successor—"recognized and adopted" the lease in circumstances where he did not know of the unregistered lease at the time he entered into the transaction ...
The time use of a chattel or other so called "personal property" is covered under general contract law, but the term lease also nowadays extends to long term rental contracts of more expensive non-Real properties such as automobiles, boats, planes, office equipment and so forth. The distinction in that case is long term versus short term rentals.
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