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The demand curve for an inferior good can never be downward sloping.
Legal Liability
The responsibility of an individual or entity for actions or omissions that result in harm or loss to another party, subject to legal sanctions.
Assignment
(1) A contracting party’s (an assignor’s) transfer of his or her rights to the contract to a third party (an assignee). (2) A transfer of a tenant’s entire interest in a leased property.
Covenant of Quiet Enjoyment
A lease promise that the tenant will have peaceful and undisturbed use of the property, without interference from the landlord or others with superior title.
Constructive Eviction
An action by a landlord that significantly interferes with or diminishes the use of a property by a tenant, which leads to the tenant being effectively forced to leave.
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