4 ms·
Reminds me of the 'off by one' joke in CS. It actually is a 1000 year lease. The first year of the lease is year 0. So you make 999 lease payments and you have
by ChuckMcM 7y ago
Reminds me of the 'off by one' joke in CS. It actually is a 1000 year lease. The first year of the lease is year 0. So you make 999 lease payments and you have paid for all years up to and including year 999. The lease gets renewed at year 1000.
- lordleft 7y agoHuh. Even common law is zero-indexed.
- gowld 7y agoAre you saying 999 lease payments plus a down payment, or making an off-by-one error? When I sign a 1-year lease on real estate, it's 1 year, not 2 years.
- ChuckMcM 7y agoIts a terms thing, in a one year lease, let's say you sign it in December, and pay for the month of January. Now each month you make a payment for the "next" month, so in November (month 11) you make the final payment for December. You have made 12 payments but the last one was in month 11. The first payment was made in month "0" :-) it happens "outside" the lease range. In a 99 year lease (the more common ones) you make your first year payment and then the lease starts. Then you make 99 more payments and at the end of the last year the least ends. Which will be the 100 year anniversary of the start of the lease.
- cwmma 7y agoyeah but in your example, nobody would call a 1 year lease an 11 month lease, because you have the thing for 12 months not 11
- ChuckMcM 7y agoI don't name these things :-)
- Wowfunhappy 7y agoWell, why do we generally call two year leases two year leases, but thousand year leases 999-Year leases? Where is the cutoff point where we switch terminology?