Timeline for Is a fully executed lease with a serious error legally binding?
Current License: CC BY-SA 3.0
5 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Dec 21, 2016 at 22:25 | comment | added | ohwilleke | If the lease has a term of three or more years, the Court may not have the authority to enforce a verbal agreement as to the rent (yes, there are a variety of exceptions to the statute of frauds that could conceivably apply here, but it still might bar a blue pencil of the agreement to fit an oral agreement), leaving termination of the lease as the sole option. It also occurs to me as I consider exceptions that if any other documents besides the lease in the deal mentioned the actual intended rent that would be material. | |
| Dec 20, 2016 at 23:59 | comment | added | feetwet♦ | @ohwilleke - How does that statute apply to (or inform) this answer, or the question? | |
| Dec 20, 2016 at 18:35 | comment | added | ohwilleke | The relevant statute of frauds in NC is NC Statutes § 22-2 which states in the pertinent part that "All . . . other leases and contracts for leasing lands exceeding in duration three years from the making thereof, shall be void unless said contract, or some memorandum or note thereof, be put in writing and signed by the party to be charged therewith, or by some other person by him thereto lawfully authorized." | |
| Dec 20, 2016 at 17:56 | comment | added | ohwilleke | Either party could probably get out on a theory of mutual mistake or failure to reach a true agreement on the material terms unless one could devise a reason to explain that $0 was actually correct, which you probably couldn't do with out lying. Depending on the length of the lease and NC law the statute of fraud might make an oral agreement void. | |
| Dec 20, 2016 at 10:21 | history | answered | gnasher729 | CC BY-SA 3.0 |