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.

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A lease has not been created because the price must be stated with more precision. Without a specific rent amount stated, there is no valid contract for a commercial lease in favour of Roman.

Sofia Owned the Fee Simple in a Piece of Land