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The purpose is to assess the likelihood the tenant will fulfill the terms of the lease or rental agreement and will also take great care of the rental property in question. The process culminates in a decision as to whether to approve the applicant, approve the applicant conditionally (such as requiring an increased deposit or cosigner ), or ...
Money is the most common form of consideration, but other consideration of value, such as other property in exchange, or a promise to perform (i.e. a promise to pay) is also satisfactory. Notarization by a notary public is normally not required for a real estate contract, but many recording offices require that a seller's or conveyor's ...
The law of lease is often discussed as a counterpart to the law of sale. South African law, like its Roman counterpart, recognises three forms of the contract of lease: locatio conductio rei, or renting or hire of a thing, movable or immovable; locatio conductio operarum, or employment contract or hire of labour between an employer and an ...
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If an inspection is made known in advance, it can give people a chance to cover up or to fix mistakes, which could lead to distorted and inaccurate findings. A surprise inspection, therefore, gives inspectors a better picture of the typical state of the inspected object or process than an announced inspection.
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First article inspection is typically a purchase order requirement of the purchaser for the supplier to complete. If the manufacturer doesn't have the in-house capability or if the purchaser requests, the first article inspection may be conducted by an approved subcontract supplier such as a dimensional inspection/metrology laboratory.
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