New Jersey Statutes 30:9-23.10. Duration of contracts and leases
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Terms Used In New Jersey Statutes 30:9-23.10
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Any contract, agreement or lease authorized by this act may be entered into for a term not to exceed 50 years.
L.1955, c. 22, p. 75, s. 5.