Many States Provide That a Lease for a Term Exceeding

question 42

Multiple Choice

Many states provide that a lease for a term exceeding __________ must be in writing.

• A) three (3) months
• B) six (6) months
• C) one (1) year
• D) three (3) years

---

Definitions:

Tax

A compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Price

The amount of money exchanged for a good or service, influenced by factors like supply and demand, production costs, and market competition.

Tax Revenue

The income that is collected by the government through various forms of taxes from individuals and businesses.

Government

An organization, often a group of people, with the authority to govern a country or state.