Contracts

What is a Warranty? Warranties are guarantees made usually by manufacturers or service companies which may describe the terms by which services, repairs, replacement, or maintenance will be conducted should any such work be necessary.

It is important for tenants to pay attention to the eviction procedures in the agreement and terms. No one wants to be unjustly evicted. Most states have laws that provide certain procedures to ensure that each tenant is accorded due process of law, so that they do not come home and find someone else living in their unit with their belongs on the street.

There is a contractual relationship between a landlord and tenant. They each have duties to one another for a lease term to run smoothly.

Landlord Duties:

Understanding your rights as a landlord or tenant can assist you in avoiding problems should you decide to rent instead of purchase your home. As with other areas of law, state law governing this area in each state will vary. Sometimes even cities have their own Rent Control laws, so it is imperative that you check with your local Plan Attorney before proceeding.

One of the primary concerns in agreements between private parties can be running afoul of usury laws. Usury laws set limitations on the amount of interest which can be charged, and these rates vary by state. States have these rules so that certain institutions or persons cannot take extreme advantage of another person in a less equal financial position.

Often, contracts can be broken in at least three ways:

Most contracts are based on common law elements. The elements of most basic contracts are:

  1. Offer
  2. Acceptance
  3. Consideration.

In order to determine whether a contract exists, understanding of these elements are needed.

Offer

We will be discussing contracts in a very general sense. Please keep in mind that with the specific facts of your contract, much of the information provided will help you understand the legal consequences of the contract issue. Since there are specific issues that may change the outcome of your case, you should consult with an attorney to make sure that you are on a solid legal ground.

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