If a Condition to a Lease for University Housing That

question 59

True/False

If a condition to a lease for university housing that the tenant must be a student is not satisfied, the landlord's obligations under the lease are discharged.

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Definitions:

State of Incorporation

The specific state within the United States in which a company is legally registered to do business.

Statutory Close Corporation Supplement

A legal provision allowing a closely held corporation to operate with less formal procedures than are required of other corporations.

Fewer than 100 Shareholders

A characteristic of some business entities, like S-corporations, which limits the number of shareholders to maintain eligibility for certain tax benefits.

Model and Revised Acts

Model and Revised Acts are standardized legislative drafts provided as a suggestion for lawmaking bodies to adopt or adapt, aiming to create uniformity across jurisdictions.