A Periodic Tenancy Refers to a Lease in Which the Parties

question 21

True/False

A periodic tenancy refers to a lease in which the parties agree to no set termination date but to the rental period being automatically renewed.

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Definitions:

Magnuson-Moss Act

A federal law enacted in 1975 designed to protect consumers from deceptive warranty practices, applying primarily to consumer products.

Written Warranty

A formal, written promise offered by a manufacturer or seller to the purchaser of goods, guaranteeing the quality or performance of a product over a specified period.

Limited Warranty

A warranty that covers only specific parts of a product or specific types of defects for a set period of time.

Full Warranty

A comprehensive guarantee that covers the repair or replacement of a product if it fails to meet specified criteria, often without extra costs to the consumer.