Differentiate Between a Business Organization and a Nonprofit Organization

question 39

Essay

Differentiate between a business organization and a nonprofit organization.

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Definitions:

Assignment

The conveyance of rights, possessions, or duties from one individual to another.

Sublease

An agreement where the original tenant leases out the premises to another tenant, with or without the landlord’s permission.

Eviction

The legal process by which a tenant is removed from a property, usually due to failure to comply with rental agreement terms.

Lease

A contractual arrangement calling for the lessee to pay the lessor for use of an asset for a specified time period.