Question

2. Discuss the essentialia of Lease Agreement . In support of your answers make reference to relevant legal authorities.

Answer 1

The essentials to lease agreement are as follows-

1.There are two parties to the lease agreement. One is Lessor and other is Lessee .The lessor is also called as the landlord and lessee is known as tenant.

2.The subject matter of the Lease agreement is immovable property. The term, "immovable propetty" may not be house, land but also includes the benefits arising out of land, right to collect fruits of a garden, rights to extract coal and minerals etc

3.The right to enjoy the property must be transferred for a certain time, implied or expressed or in perpetuity.

4.The consideration for lease is either premium or rent,which is the price paid or promised in consideration of the demise.

5.A lessee can transfer the whole or any part of his interest in the property by sub-lease. However this right is subject to the contract to the contrary and he can be restrained by the contract from transferring his lease by sub-letting.