Mary Signed a Lease Agreement That Includes the Following Provisions,among

question 14

Essay

Mary signed a lease agreement that includes the following provisions,among others:
1.The monthly rent is $800,due on the first of the month.Late rent is not accepted and will be considered a breach of this lease agreement.The term of this lease is 12 months.
2.Utilities costs will be shared with the other three units in the building.The landlord will provide copies of the monthly electric and water bills along with a calculation of the amount owed by the tenants in each unit.
3.No more than one automobile per unit can be parked in the parking lot.Parking is unassigned.
4.No pets,except fish,are allowed.Any tenant caught with a pet in violation of this provision will be considered in breach of this agreement.
5.Tenants keeping a cat will be charged a $100 cleaning fee.This will be charged regardless of the actual cleanliness of the apartment.
6.Security deposit.The tenant will pay a security deposit of $1,000 to secure the performance of this lease.
Several months into the agreements several disputes arise over this lease.The parties continue with the agreement until just before the rent is due for the last month.Mary has the following disputes:
a.The landlord told Mary in the fifth month that she could pay by the fifth day of the month and it would not be a problem.He now claims that she has breached by paying in this 5-day period.
b.The landlord has been charging Mary one-fourth of the water and electricity costs even though he told Mary that her share would be 20 percent,because her unit is significantly smaller than the other three units.
c.Next to the "one" in the car parking provision,the landlord wrote "two" by hand.Now the landlord wants to limit Mary and her roommate to one car in the lot.
d.Mary has had a cat in the apartment for the last few months and the landlord wants her to remove it.
e.Mary wants the landlord to take her last month's rent out of the security deposit,and the landlord refuses.Discuss the issues surrounding the disputes in this lease.

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Definitions:

Total Utility

The total satisfaction or benefit that a consumer derives from consuming a certain quantity of a good or service.

Equilibrium Combination

A state in which market supply and demand balance each other, resulting in stable prices and quantities.

Marginal Utility

The change in overall satisfaction derived from the consumption of an additional unit of a good.

Health Care Consumption

Encompasses the use of health care services, goods, and resources by individuals or communities.