Hsc300 Unit 1 Assignment

Words: 1020
Pages: 5

I entered into an acceptable rental contract with my landlord since the five essential elements of the contract were present and it protects both my rental company and myself. The five elements are the offer, the acceptance, the consideration, the capacity and the lawful object. “An offer must contain an unequivocal (clear, unambiguous) promise to enter into a contract, must have reasonably certain terms, and must be communicated by the promisor (the person making the promise) to the promisee (the person to whom the promise is made)” (Rogers, S., 2012). Lets look at the first element, the offer; the rental company I am working with agrees to offer me a two bedroom one bath apartment for twelve consecutive months for $1050.00, water, …show more content…
An “acceptance of an offer is the clear manifestation of assent to the terms of the offer” (Rogers, S., 2012). To accept the offer I needed to bring the first months and the security deposit to the office. According to T. Taylor of the Luter School of Business, a “ubiquitous monthly rent plus security deposit is the standard contract in the United States and many Western countries” (2007). The deposit amount that a person needs to come up with will very from company to company. The reason this is done is to “safeguard the lease agreement while not unduly burdening the tenant’s with large payments up-front” (Taylor, …show more content…
If I fail to pay the rent by the specific day, a penalty will occur. I will own ten percent of the $1050.00 every day after the day four until it is paid. I also breach the contract if I fail to abide by the rules of the contract. If I damage the apartment in anyway other than normal wear and tear. I have to pay for damages or risk the chance of losing my deposit or be sued for damages by the leasing company. If I bring a pet without making the deposit I have breached the contract. With that being said, I would have to pay the $500.00 pet deposit or remove the pet from the