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In contrast, a lease-purchase is a bilateral, or two-way, agreement. The basic elements of a lease-option are: 1. Buyer purchases the option. The parties agree to what the cost of the option is. As noted above, it can range from a token amount to 5% (or more) of the value of the property. The option fee usually is non-refundable.
Container-deposit legislation (also known as a container-deposit scheme, deposit-refund system or scheme, deposit-return system, or bottle bill) is any law that requires the collection of a monetary deposit on beverage containers (refillable or non-refillable) at the point of sale and/or the payment of refund value to the consumers. When the ...
Container deposit legislation (CDL) requires a refundable deposit on certain types of recyclable beverage containers in order to ensure an increased recycling rate. Studies show that the recycling rate for beverage containers is vastly increased with a bottle bill. The United States' overall beverage container recycling rate is approximately 33 ...
Rental agreement. A rental agreement is a contract of rental, usually written, between the owner of a property and a renter who desires to have temporary possession of the property; it is distinguished from a lease, which is more typically for a fixed term. [1] As a minimum, the agreement identifies the parties, the property, the term of the ...
Commercial property, also called commercial real estate, investment property or income property, is real estate (buildings or land) intended to generate a profit, either from capital gains or rental income. [1] Commercial property includes office buildings, medical centers, hotels, malls, retail stores, multifamily housing buildings, farm land ...
In contract law, rescission is an equitable remedy which allows a contractual party to cancel the contract. Parties may rescind if they are the victims of a vitiating factor, such as misrepresentation, mistake, duress, or undue influence. [1] Rescission is the unwinding of a transaction. This is done to bring the parties, as far as possible ...