Sofia owned the fee simple in a piece of land called Blackacre.She purported to create a contract for a commercial lease in favour of Roman.That agreement said that Roman was required to pay a "reasonable amount" in rent.A lease has not actually been created because the price must be stated with more precision.

Question

Quizplus · Accepted Answer

A lease cannot be created without a specific and definite price stated in the agreement. The term "reasonable amount" is not sufficiently specific and precise to create a valid lease. Therefore, the purported lease is not enforceable.

Sofia Owned the Fee Simple in a Piece of Land