As a professional, I am writing this article to explain what an immediate contract is and how a lease contract is an example of such a contract.

An immediate contract is a type of contract where the parties involved execute their obligations at the time of agreement. It means that the contract`s performance begins right after the parties sign the agreement, and no period elapses. Immediate contracts are also known as « executed contracts » or « present contracts. »

One of the most common examples of an immediate contract is a lease agreement. A lease agreement is a legal contract between a landlord and a tenant that outlines the terms and conditions of renting a property. As soon as both parties sign the agreement, they are bound to their commitments.

In a lease agreement, the landlord agrees to lease the property to the tenant for a certain period and at a specific rent. The tenant, on the other hand, agrees to pay the rent on time, keep the property in good condition, and return the property to the landlord in the same condition as received at the end of the lease term.

The lease agreement is an immediate contract because both parties execute their obligations at the time of agreement. The landlord delivers the property to the tenant as soon as they sign the lease, and the tenant begins to pay rent immediately. The performance of both parties is simultaneous, and no period elapses between the agreement and the performance.

In an immediate contract, the parties can fulfill their obligations without waiting for any further conditions to be met. This type of contract provides certainty and clarity to both parties and reduces the risk of disputes. At the same time, it also puts pressure on both parties to execute their obligations immediately.

To conclude, a lease contract is an example of an immediate contract as both parties execute their obligations at the time of agreement. Immediate contracts provide certainty and clarity to both parties and reduce the risk of disputes.