Which of the Following Is a Distinguishing Characteristic of a Tenancy

question 50

Multiple Choice

Which of the following is a distinguishing characteristic of a tenancy that runs from fiscal year to fiscal year?

• A) Either party may use the land as security for a loan for the duration of a lease term.
• B) The tenancy automatically renews unless a notice of termination is given prior to expiry.
• C) Either party will be bound by mutual obligations to negotiate a renewal or extension.
• D) The tenancy terminates unless renegotiated on each fiscal year-end date in the tenancy lease.

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Definitions:

Trade Adjustment Assistance

A federal program designed to help workers who have lost their jobs as a result of international trade find new employment.

Imports

Goods or services brought into a country from abroad for sale.

European Union

A political and economic union of 27 European countries that have agreed to abide by common policies on a range of issues, including trade, security, and laws.

Trade Barriers

Measures used by countries to restrict international trade and protect domestic industries, including tariffs, quotas, and subsidies.