(1) A lease contract may be made in any manner sufficient to show agreement, including conduct by both parties which recognizes the existence of a lease contract.
(2) An agreement sufficient to constitute a lease contract may be found although the moment of its making is undetermined.
(3) Although one or more terms are left open, a lease contract does not fail for indefiniteness if the parties have intended to make a lease contract and there is a reasonably certain basis for giving an appropriate remedy.
UCC Official Comments © by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.
Uniform Statutory Source. — Section 2-204 [ 55-2-204 NMSA 1978].
Changes. — Revised to reflect leasing practices and terminology.
"Agreement". Section 1-201(3) [ 55-1-201 NMSA 1978].
"Lease contract". Section 2A-103(1)(l) [ 55-2A-103 NMSA 1978].
"Party". Section 1-201(29) [ 55-1-201 NMSA 1978].
"Remedy". Section 1-201(34) [ 55-1-201 NMSA 1978].
"Term". Section 1-201(42) [ 55-1-201 NMSA 1978].