A Term of a Lease Required That the Landlord Provide

question 37

Multiple Choice

A term of a lease required that the landlord provide exterminating services monthly to control rats and other pests.The landlord failed to do this despite numerous requests placed by the tenant,and the premises became overrun by rats.This may be considered:

• A) a breach of the covenant of quiet enjoyment.
• B) a physical eviction.
• C) active waste.
• D) a constructive eviction.

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Definitions:

Depletion Expense

An accounting approach to allocate the cost of extracting natural resources, like minerals or timber, over their productive life.

Mineral Deposit

A natural accumulation of minerals that can be economically extracted for use.

Trade-In Allowance

The amount credited to the buyer by a seller when the buyer returns a product, usually a vehicle, as part of the payment for a new item.

Commercial Substance

A concept in accounting that indicates a transaction significantly changes the economic circumstances of the involved parties, beyond the mere transfer of assets or obligations.