Which of the Following Statements Is TRUE

question 53

Multiple Choice

Which of the following statements is TRUE?

• A)A commercial lease is always granted to a corporation and a residential lease is always granted to an individual.
• B)If the duration of a lease is three years or less, the parties must set a specific rent at the outset, and that amount cannot be altered during the term of the lease.
• C)The covenant for quiet possession may apply even if both parties are deaf.
• D)The right of distress is used more often for residential leases than for commercial leases.
• E)If a residential tenant commits a breach of contract, the landlord is not expected to mitigate its losses.

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Definitions:

Everyday Low Pricing

A pricing strategy where companies consistently offer products at low prices rather than relying on sales or discounts.

Retail Pricing Strategy

The approach a retailer uses to price its products or services, aimed at achieving a balance between profit margins and market competitiveness.

Markdowns

Reductions in the selling price of goods, often to clear old stock or during sales promotions.

Original Price

The initial cost set for a product or service before any discounts, promotions, or markdowns are applied.