ART 1643. In the lease of things, one of the parties binds himself to give another the enjoyment or use of things for a price certain, and for a period which may be definite or indefinite. However, no lease for more than ninety-nine years shall be valid.
Definition of contract of lease of things
A contract of lease of things is a consensual, bilateral, onerous and commulative contract by which a person temporarily grants the use or enjoyment of certain property to another who undertakes to pay rent or a price certain therefore, said contract to last for a period which is either definite or indefinite, but in no case should exceed 99 years.
Characteristics of contract of lease
A contract of lease has the following characteristics:
Source: Ejectment and Rent Control Law and Jurisprudence by Reynaldo Aralar
Definition of contract of lease of things
A contract of lease of things is a consensual, bilateral, onerous and commulative contract by which a person temporarily grants the use or enjoyment of certain property to another who undertakes to pay rent or a price certain therefore, said contract to last for a period which is either definite or indefinite, but in no case should exceed 99 years.
Characteristics of contract of lease
A contract of lease has the following characteristics:
- It is a CONSENSUAL CONTRACT - it involving meetings of mind between the lessor and the lessee;
- It is a BILATERAL CONTRACT - it involving two parties with different rights and obligations;
- It is a PRINCIPAL CONTRACT - it being independent or not dependent on any other contract;
- It is a ONEROUS CONTRACT - it being entered into for pecuniary consideration;
- It is a COMMUTATIVE CONTRACT - it involving the exchange of the compensation paid by one in consideration of the use of the things owned by another;
- It is a NOMINATIVE CONTRACT - it being called a specific name in the new Civil Code;
- It is a TEMPORARY CONTRACT - it being not perpetual the law limiting the maximum period of lease to 99 years.
Source: Ejectment and Rent Control Law and Jurisprudence by Reynaldo Aralar