Even If a Lease Does Not Expressly Say That the Item

question 8

Multiple Choice

Even if a lease does not expressly say that the item leased must come back in the same condition in which it went out (subject to reasonable wear and tear) ,a court will imply such a term.Courts will do so on the basis that such a term

• A)was clearly intended by both parties.
• B)was clearly desirable.
• C)would improve the contract.
• D)is in accordance with the usual industry standard practice in the industry the parties are engaged in,if that implied term is proved by admissible evidence at trial.
• E)is found in some leases.

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Definitions:

Warrants

Financial derivatives that give the holder the right, but not the obligation, to buy or sell a security at a specific price before a certain date.

Earnings Per Share

A company's profit divided by the number of outstanding shares of its common stock, indicating profitability.

Total Equity

The total of all ownership interests in a company, calculated as the difference between total assets and total liabilities; also known as shareholders' equity or owner's equity.

Bonds Outstanding

Bonds outstanding are the total amount of bonds issued by a company that are not yet redeemed and are currently held by investors.