Angel Cabrera Owns a Store and Is Showing It to Crista

question 15

Multiple Choice

Angel Cabrera owns a store and is showing it to Crista D Alimonte who wants to lease it to run a coffee shop. Angel thinks he saw a newspaper report that a new bus route with a main stop across from the shop was to be started soon. He tells Crista that a new bus stop is soon to be established. She signs a lease that sets out only the rental amount and the length of the lease. There is no mention of the bus stop. After a year, there is still no bus stop across from the shop, and Crista sues. What remedy could a court award her?

• A)Damages for business losses
• B)A declaration that the lease was now rescinded
• C)A reduction in rent
• D)Both A and B
• E)All of the above

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Definitions:

C Corporations

A legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity.

Unlimited Life

Refers to corporations or legal entities that continue to exist indefinitely until dissolution, unlike natural persons who have a finite lifespan.

Double Taxation

The imposition of taxes on the same income, asset, or financial transaction at two different levels of government.

Accounting

A systematic process of recording, summarizing, and reporting the financial transactions of a business.