With Respect to Any Right of a Lessee to Assign

question 20

Multiple Choice

With respect to any right of a lessee to assign (sublet) its leasehold interest,

• A) it is an absolute right under common law, but greatly restricted by statute.
• B) it is greatly restricted at common law, but significantly expanded by statute.
• C) it is entirely governed by statute.
• D) it would be entirely governed by the terms of the lease.
• E) it would be entirely governed by the terms of the lease if it was a commercial tenancy.

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Definitions:

Lump-Sum Tax

A tax that is the same for everyone, regardless of any actions people take.

Ability-To-Pay Principle

A taxation principle suggesting that taxes should be levied according to an individual's or entity's capability to bear the tax burden.

Tax Revenue

The income gained by governments through taxation.

Income Taxes

Taxes levied by governments on individuals or entities' income, affecting the amount of money they retain from earnings.