If a Tenant Fails to Pay Rent on Time the Landlord

question 23

Multiple Choice

If a tenant fails to pay rent on time the landlord: __________.

• A) has an automatic lien on the tenant's personal property for the money due.
• B) has the right to lock the tenant out of the property.
• C) may take legal steps to evict the tenant.
• D) may use the security deposit to pay the tenant's rent.

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Definitions:

Noncompulsory Distributions

Financial or resource allocations made by an organization or government that are not mandated by law or regulation, often discretionary in nature.

Demand Heterogeneity

Describes the variation in consumers' preferences and needs, which can influence the market strategy of businesses.

Government Failure

Occurs when government intervention in the economy causes inefficiencies or leads to an allocation of resources that does not maximize societal welfare.

Market Failure

A situation in which the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.