Opinion ID: 758265
Heading Depth: 3
Heading Rank: 4

Heading: Payment of Rent

Text: 38 The defendants also claim that the sublease does not meet the Statute of Frauds because it fails to provide for the manner and time for the payment of rent, citing Smith v. House of Kenton Corp., 23 N.C.App. 439, 209 S.E.2d 397, 400 (N.C.Ct.App.1974) (lease did not satisfy Statute of Frauds because it failed to provide for the manner of payment of rent, whether monthly, quarterly, semiannually, or whether due at the first of the month, mid-month, or at the end of the month). Smith has not been adopted by New Mexico courts. We believe that New Mexico law comports with the position that providing for the amount of rent and the period to be covered by the rental amount (i.e. monthly rent or annual rent) is sufficient to satisfy the Statute of Frauds. Thus, we find the original memorandum to be sufficiently clear on the question of rent to satisfy the Statute of Frauds.