Contract: Renting Essay

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The contract has to be agreed upon by both parties before creating it and every statement included in it has to be agreed upon. All the requirements that are involved need to be included in the contract so the parties know what they are signing for before they do and they must make sure they read it and it is correct. For example when someone is hiring a car from a car company they will be many different sections of the contract that the party hiring the car will have to read so they know how long they will have the car for, what condition to bring it back in etc. In the contract the car hire company will include what type of car it is, the model of it, the colour, the year etc so they know which car it is that is being hired. Also they will be a law stated in the contract so the person hiring is aware of it and will know about the breach of the contract.

They can be many different weaknesses and benefits about the offer within a contract. For example the offer can be that the person gets to hire the car for three days for a certain price and they will have to stick to this day and bring it back in the appropriate condition that it was in when it was rented to them otherwise the car company can choose to charge and take matters in to their own hands as it will be a breach of the contract and the law will be broken. Also according to the contract if they are any damages done by the person renting it they will have to pay for all costs to get the damages fixed as they will be responsible for it and this will be part of the contract to do so and they would had signed it. Most car companies allow their customers to hire the car for as long as they need it for and this will then be written in to the contract and this can be a threat to other car companies who don't do this as they will get more customers due do this rule because then they know they can hire it for a week or two and other companies won't allow them to do this so they will go to the one that will let them. Then the other company might feel the need to compete with them as they will be getting more customers.

Once the person has read the contract and seen about the companies business policies, insurance details, warranties etc the contract will have to be filled in about what make the car is, the model of it, the start and end date of when they are hiring the car for, the person names and details who is hiring the car and at the end both the renter and owner of the car will have to sign it, sign in the date and their names so then the renter can start using it and bring it back on the date that was agreed upon. They will then both have to print out a copy of the contract.

Within the car contact they are some terms and conditions for the mileage limit which the renter will have to obey and they are:
Mileage Limit
Renter will obey the following mileage limit for the Vehicle:
[ ] No mileage limit [ ] __________ miles
Rental Fees
The Renter hereby agrees to pay the Owner for use of the Vehicle as follows:
Fees: $______ per day / week.
Fuel: Renter shall pay / is not required to pay for the use of fuel.
Excess Mileage: $______ per mile
Deposit: $_______. Owner shall retain this deposit to be used, in the event of loss of or damage to the
Vehicle during the term of this Agreement, to defray fully or partially the cost of necessary repairs or replacement. In the absence of damage or loss, said deposit shall be credited toward payment of the rental fee and any excess shall be returned to the Renter.
With the blank spaces the owner of the car will have to fill it in with the amount of what they think is reasonable for the renter
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