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BASIC REQUIREMENTS OF A LEASE

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And what is more, a lease is an exact legal transaction affecting an estate and the law requires some basic requirements. They are (1) The words of demise. (2) The agreement must be complete. (3) The lessor and the lessee must be clearly identified. (4) The premises and dimensions of the property to be leased must be stated clearly. (5) The commencement and duration of the term of the lease must also be clearly stated. See Osho v. Foreign Finance Corporation (1991) 4 NWLR (Pt. 184) 157. In Nlewedim v. Uduma (1995) 6 NWLR (Pt. 402) 383, this court held that a lease to be valid and enforceable, must contain the following (1) The parties concerned. (2) The property involved. (3) The term of years. (4) The rent payable. (5) The commencement date. (6) The term as to covenants and (7) The mode of its determination.

– Tobi JSC. Odutola v. Papersack (2007)

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ESSENTIALS OF A LEASE; LEASE MUST HAVE CONSENSUS AD IDEM

It is also well settled that before an agreement for a lease may be regarded as valid, its essential terms, such as the parties concerned, the property involved, the duration or length of the term, the rent payable, the date of its commencement, the terms as to covenants and the mode of its determination must inter alia be certain. See Harvey v. Pratt. supra at p. 788. An agreement for a lease. Therefore, to be capable of enforcement by an order of specific performance must be certain as regards its essential terms.

– Iguh JSC. Nlewedim v. Uduma (1995)

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COURT WILL NOT REWRITE LEASE AGREEMENT FOR PARTIES

In doing so, the court should bear in mind that it has a responsibility not to re-write the Lease Agreement for the parties but simply to give effect to their intention as may be deduced from the language employed by them.

— Achike, JSC. Unilife v. Adeshigbin (2001) 4 NWLR (Pt.704) 609