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valid lease

Posted by Mike on June 21, 1998 at 17:22:50:

A friend and I recently applied for an apartment rental based on our
joint credit and income (this application was made out to, and signed
by both of us). We were accepted and I signed the lease and took
possession of the keys (I did not move in, though). Meanwhile, the
"friend" who did not sign the lease as of yet, backed out on me.
I immediately informed the real estate company that I could not afford
the apartment and wanted out. To make a long story short, the real estate company has about $2000 of my money already and and have just sent me another bill for $1000 (re-rental fees, etc.) All of this for a place
that I didn't even move into.

My questions are:

1) is the lease valid since it is made out to (and applied for) by two parties and only one party has signed it ?

2) if the above lease is in fact binding, why is it that the real estate
company is only pursuing me for the penalties associated with
breaking the lease.

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