This document discusses the essential elements of a lease based on the Street v Mountford case. A lease requires the occupier be granted exclusive possession of the property for a fixed or periodic term. Exclusive possession means the occupier can exercise the rights of an owner, such as controlling access. The objective intention of the parties determines if a lease exists, not the label used. A lease does not need to be an estate in land in exceptional cases where there was no intention to create legal relations or special circumstances prevented exclusive possession from creating a tenancy.