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Generally, however, will is far more common than shall. Use of shall is normally a marked usage, typically indicating formality or seriousness and (if not used with a first person subject) expressing a colored meaning as described below. In most dialects of English, the use of shall as a future marker is viewed as archaic. [9]
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.
If the liens are not cleared before by the time of the closing, then the deed should specifically have an exception(s) listed for the lien(s) not cleared. The buyer(s) signing the real estate contract are liable (legally responsible) for providing the promised consideration for the real estate, which is typically money in the amount of the ...
Because options amount to dispositions of future property, in common law countries they are normally subject to the rule against perpetuities and must be exercised within the time limits prescribed by law. In relation to certain types of asset (principally land), in many countries an option must be registered in order to be binding on a third ...
The narrower term 'tenancy' describes a lease in which the tangible property is land (including at any vertical section such as airspace, storey of building or mine).A premium is an amount paid by the tenant for the lease to be granted or to secure the former tenant's lease, often in order to secure a low rent, in long leases termed a ground rent.
A bill of exchange, for instance a cheque, is a written order by one person to another (typically a bank) to pay a sum of money to a third person. In contract law, formality is typically required for large engagements. This includes the sale of land, [6] a lease of property over three years, [7] a consumer credit agreement, [8] and a bill of ...
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