Ace the Illinois Leasing Agent Exam 2025 – Lease Out Your Future with Confidence!

Question: 1 / 400

What must occur if a lease agreement is broken by either party?

The lease becomes void immediately

Legal action may be taken

When a lease agreement is broken by either party, legal action may be taken. This is because breaking a lease is considered a breach of contract, which gives the injured party the right to seek remedy through legal channels. This could involve filing a lawsuit for damages, seeking specific performance, or negotiating a settlement outside of court.

While breaking a lease can sometimes lead to other outcomes, such as negotiating new terms or even drafting a new contract, these actions are not guaranteed or required under the law. The option of pursuing legal action encompasses the various approaches that a party can take to address the situation, making it a crucial first step in addressing any breaches of a lease agreement.

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Negotiation of new terms

A new contract must be drafted

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