Jack Is on Vacation and Enters into an Agreement with the Owner

question 40

Multiple Choice

Jack is on vacation and enters into an agreement with the owner of a home.He will reside in one of the rooms in the home and will share the kitchen with the other tenants.He will vacate the premises at the end of his vacation,in one month.If at the end of the month Jack does not vacate the premises and the landlord does not agree to Jack staying on,Jack becomes

• A)a periodic tenant.
• B)a tenancy at sufferance.
• C)a tenant at will.
• D)a term certain tenant.
• E)an overholding tenant.

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Definitions:

Giffen Good

A product that experiences an increase in demand as its price rises, contrary to the basic law of demand, often because it lacks close substitutes.

Normal Goods

Goods for which demand increases when consumers' income increases and falls when income decreases, all else being equal.

Consumption Bundle

A combination of various goods and services that an individual consumes.

Cappuccino

A popular coffee drink made with equal parts espresso, steamed milk, and frothed milk.