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LEASE, contracts. A lease is a contract for the possession and profits of lands and tenements on one side, and a recompense of rent or other income on the other; Bac. Ab. Lease, in pr.; or else it is a conveyance of lands and tenements to a person for life, or years, or at will, in consideration of a return of rent, or other recompense. Cruise's Dig. tit. Leases. The instrument in writing is also known by the name of lease; and this word sometimes signifies the term, or time for which it was to run; for example, the owner of land, containing a quarry, leases the quarry for ten years, and then conveys the land, "reserving the quarry until the end of the lease;" in this case the reservation remained in force tin the ten years expired, although the lease was cancelled by mutual consent within the ten. years. 8 Pick. R. 3 3 9. 2. To make such contract, there must be a lessor able to grant the land; a lessee, capable of accepting the grant, and a subject-matter capable of being granted. See Lessor; Lessee. 3. This contract resembles several others, namely: a sale,, to constitute which there must be a thing sold, a price for which it is sold, and the consent of the parties as to both. So, in a lease there must be a thing leased, the price or rent, and the consent of the parties as to both. Again, a lease resembles the contract of hiring of a thing, locatio condudio rei, where there must be a thing to be hired, a price or compensation, called the hire, and the agreement and consent of the parties respecting both. Poth. Bail a rente, n. 2. 4. Before proceeding to the examination of the several parts of a lease, it will be proper here to say a few words, pointing out the difference between an agreement or covenant to make a lease, and the lease itself. When an agreement for a lease contains words of present demise, and there are circumstances from which it may be collected that it was meant that the tenant should have an immediate legal interest in the term, such an agreement will amount to an actual lease; but although words of present demise are used, if it appears on the whole, that no legal interest was intended to pass, and that the agreement was only preparatory to a future lease, to be made, the construction will be governed by the intention of the parties, and the contract will be held to amount to no more than an agreement for a lease. 2 T. R. 739. See Co. Litt. 45 b: Bac. Abr. Leases, K; 15 Vin. Abr. 94, pl. 2; 1 Leon. 129; 1 Burr. 2209; Cro. Eliz. 156; Id. 173; 12 East, 168; 2 Campb. 286; 10 John. R. 336; 15 East, 244; 3 Johns. R. 44, 383; 4 Johns. R. 74, 424; 5 T. R. 163; 12 East, 274; Id. 170; 6 East, 530; 13 East, 18; 16 Esp. R. 06; 3 Taunt. 65; 5 B. & A. 322. 5. Having made these few preliminary observations, it is proposed to consider, 1. By what words a lease may be made. 2. Its several parts. 3. The formalities the law requires. 6.-1 The words "demise, grant, and to farm let," are technical words well understood, and are the most proper that can be used in making a lease; but whatever words are sufficient to explain the intent of the parties, that the one shall divest himself of the possession and the other come into it, for such a determinate time, whether they run in the form of a license, covenant, or agreement, are of themselves sufficient, and will, in construction of law, amount to a lease for years as effectually as if the most proper and pertinent words had been made use of for that purpose. 4 Burr. 2209; 1 Mod. 14; 11 Mod. 42; 2 Mod. 89; 3 Burr. 1446; Bac. Abr. Leases; 6 Watts, 362; 3 M'Cord, 211; 3 Fairf. 478; 5 Rand. 571; 1 Root, 318. 7.-2. A lease in writing by deed indented consists of the following parts, namely, 1. The premises. 2. The habendum. 3. The tenendum. 4. The reddendum. 5. The covenants. 6. The conditions. 7. The warranty. See Deed. 8.-3. As to the form, leases may be in writing or not in writing. See Parol Leases. Leases in writing are either by deed or without deed; a deed is a writing sealed and delivered by the parties, so that a lease under seal is a lease by deed. The respective parties, the lessor and lessee, whose deed the lease is, should seal, and now in every case, sign it also. The lease must be delivered either by the parties themselves or their attorneys, which delivery is expressed in the attestation "sealed and delivered in the presence of us." Almost any manifestation, however, of a party's intention to deliver, if accompanied by an act importing such intention, will constitute a delivery. 1 Ves. jr. 206. 9. A lease may be avoided, 1. Because it is not sufficiently formal; and, 2. Because of some matter which has arisen since its delivery. 10.-1. It may be avoided for want of either, 1st. Proper parties and a proper subject-matter. 2d. Writing or, printing on parchment or paper, in those cases where the statute of frauds requires they should be in writing. 3d. Sufficient and legal words properly disposed. 4th. Reading, if desired, before the execution. 5th. Sealing, and in most cases, signing also; or, 6th. Delivery. Without these essentials it is void from the beginning. 11.-2. It may be avoided by matter arising after its delivery; as, 1st. By erasure, interlineation, or other alteration in any material part; an immaterial alteration made by a stranger does not vitiate it, but such alteration made by the party himself, renders it void. 2d. By breaking or effacing the seal, unless it be done by accident. 3d. By delivering it up to be cancelled. 4th. By the disagreement of such whose concurrence is necessary; as, the husband, where a married woman is concerned. 5th. By the judgment or decree of a court of judicature.

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