How Do You Spell PAROL LEASE?

Pronunciation: [pˈaɹɒl lˈiːs] (IPA)

The term "parol lease" refers to a type of lease agreement that is made verbally and not in writing. The spelling of this word can be explained using the International Phonetic Alphabet (IPA). "Parol" is pronounced as /pəˈroʊl/, with the stress on the second syllable. The "a" is pronounced as a schwa sound, while the "o" is pronounced as the "oh" sound. "Lease" is pronounced as /lis/, with the stress on the first syllable. The "a" in the second syllable is pronounced as a short "i" sound.

PAROL LEASE Meaning and Definition

1. A parol lease is a form of lease agreement that is verbal or oral in nature, rather than being explicitly documented in writing. It is a lease agreement that is entered into by the parties involved through spoken words or verbal agreement, without any formal written contract. In a parol lease, the terms and conditions of the agreement are usually discussed between the lessor (landlord) and the lessee (tenant), and both parties come to an understanding about the required expectations and conditions for the lease.

   Despite its verbal nature, a parol lease is still considered a legally binding agreement. However, due to the lack of written documentation, a parol lease can be challenging to enforce in legal proceedings as there might be disputes about the precise terms and conditions agreed upon by the parties. It may also be prone to misunderstandings or disagreements regarding the duration, rent amount, or other crucial lease elements.

   In many jurisdictions, it is advisable for parties involved in a lease agreement, whether as a lessor or lessee, to memorialize the terms of the lease in a written contract to avoid potential complications and disputes. A well-drafted written lease agreement provides clarity, protects the rights and obligations of both parties, and serves as a legal reference point for any future disagreements or legal actions.

Common Misspellings for PAROL LEASE

• oarol lease
• larol lease
• -arol lease
• 0arol lease
• pzrol lease
• psrol lease
• pwrol lease
• pqrol lease
• paeol lease
• padol lease
• pafol lease
• patol lease
• pa5ol lease
• pa4ol lease
• paril lease
• parkl lease
• parll lease
• parpl lease
• par0l lease
• par9l lease

Etymology of PAROL LEASE

The word "parol lease" originates from the combination of two terms: "parol" and "lease".

1. Parol: The term "parol" has its roots in the Middle English word "parol", which comes from Old French "parole". It ultimately derives from the Latin word "parabola", meaning "word" or "speech". In legal terminology, "parol" refers to something that is expressed orally or verbally, as opposed to being written or expressed in writing.

2. Lease: The word "lease" is derived from the Middle English word "les", which was a derivative of the Old English word "læs". It can be traced back to the Proto-Germanic word "laisijan", meaning "to glean" or "to gather".