Business Law and Legal System

Question: Discuss about the Business Law and Legal System. Answer: Introduction: Law of property is explained as the area of laws and regulation that governs various forms of ownerships and tenancy and in personal property, these laws and regulations are derived from the legal system. On the other hand, the tenancy agreement is defined as the contract that exists between the tenant and landlord, in this case, Sally is the tenant, this agreement allows Sally who is the tenant to live in a property so long as she pays rent to the landlord. However, this agreement sets the legal terms and conditions between the tenant and the landlord. Steps to be followed by the tenant before signing the lease agreement The lease agreement is a legal binding agreement that compels the lessee to pay the lessor for using an asset, therefore it is an agreement between the lessor and the lessee. This agreement shows terms and condition which the tenant do not agree with or they need to be changed and negotiated, these terms need to be read before signing the lease agreement. Sally as a tenant should have read through the lease document before signing the lease. It was her responsibility to follow the following steps before signing the standard legal document. According to Service Alberta, it is the right of every tenant, who is part of the agreement to read over the lease agreement before accepting and signing the contract (Student Legal Services (Edmonton, Alta.), 2000). Understanding the length at which the lease is applicable, this is the defined tenancy period between her and the landlord. Negotiate the additional terms of contract, these includes negotiating about the damages which sally discovered. Sally should have read over the legal document in order to ensure that the property contains all types of the amenities which she requires to have, for instance, the temperature which the room was stated to have. Responsibilities of a landlord towards a tenant According to the case study, Sallys landlord should consider it crucial to play his role as he expects Sally to pay rent, when Sally signed the standard legal document without even reading it, she has certain expectation from the landlord ("Landlord's Responsibilities to Their Tenants," n.d.). Sallys landlord in this cases the responsibility of enhancing safer and clean environment for his tenant. Under the Residential Tenancies Act, the landlord has the responsibility of ensuring that the rental units meet the minimum housing and health standards. They need to ensure that the structures of the building are safe, ensure that the heating and plumbing systems are working. In this case, Sallys room has some damages, which requires the landlord to essentially play his as it is required by the law According to Service Alberta and tenancies, it is the responsibility of a landlord to advise his tenants to take renter insurance cover. This is to protect the property of in case of events such as fire or flood. Conclusion Landlord and a tenant are bonded by the contractual agreement that exists between them, these agreement are provided by the existing laws. If a tenant or a landlord fails to play the respective responsibilities and damages are made to neither parties, one will be charged for a criminal offense. In the case of Sally and her landlord, a tenant should consider the importance of reading over the lease agreement document, the correct steps will be followed in any case a tenant has to negotiate or settle a dispute concerning the property leased out. Reference Cheeseman,H.R. (2014). Business law. Landlord and Tenant. Lease. Executory Contract to Lease Containing All the Terms Therefor as a Binding Agreement. (2013). Virginia Law Review, 16(1), 81. doi:10.2307/1065635 Landlord's Responsibilities to Their Tenants. (n.d.). Retrieved from https://www.thebalance.com/landlord-s-responsibilities-to-their-tenants-2124990 Michigan, Michigan State University. (2015). Tenants and landlords: A practical guide. Lansing, Mich.: MSU College of Law Housing Law Clinic. Student Legal Services (Edmonton, Alta.). (2000). A guide to the law regarding landlord and tenant law in Alberta. Edmonton: Student Legal Services of Edmonton.