either of the parties to be
ended on notice by the party exercising the option.

The most usual agreements or covenants in a lease are on the part of
the lessor for quiet enjoyment, which secures the tenant against any
hindrance or disturbance of his possession and enjoyment of the
premises from persons deriving their title from the landlord, or from
any one else who claims to be the owner. Also against all
encumbrances, in other words, that no one has any easements or other
rights in the premises. The landlord also usually agrees to repair,
and often to renew the lease, and the lessee to pay rent, to insure
and not to assign or underlet, without the landlord's consent. The
parties may of course agree to do any other lawful thing, for example,
sometimes the tenant agrees to make repairs, to reside in the
premises, not to engage in some kinds of business, to cultivate the
land, if the lease be of a farm, in a specified way. Again though an
oral lease for a term of years at a stated annual rent may not fulfill
the requirement of the Statute of Frauds, the parties may conform to
it and thus create a tenancy in fact from which the law will imply a
leasing from year to year. If therefore the tenant with the
acquiescence of the landlord continues in possession for several
months after the expiration of the original term, a tenancy for
another year will be created with a corresponding liability on the
part of the tenant for a full year's rent. And the measure and extent
of the tenant's liability would be the same, whether his continued
occupancy related to the original lease, or to a subsequent one just
like it, made as the first was soon to expire.

The definite period for which a lease is given is called a term. If a
lease is from the first day of January, it begins on the second day
and lasts through the last day mentioned; in carefully drawn leases
the number of days is fixed to avoid all dispute. A lease for a year
with the privilege of remaining three years or longer does not mean a
single period of three years, but three yearly periods as the tenant
may elect.

A lease may be made to take effect in the future, provided the time
for taking possession is not so far away as to violate some statute to
the contrary. A lease for an hundred years in some states is deemed a
parting with the absolute title to lands though railroads make long
leases running for ninety-nine years. If the length of the term is not
definitely e