Consider the Following Statements Regarding the Nature of the Landlord-Tenant

question 224

Multiple Choice

Consider the following statements regarding the nature of the landlord-tenant relationship.Indicate the true one.

• A) A leasehold is one kind of interest less than an estate.
• B) A characteristic shared by leaseholds and life estates is that they both grant to the holder the right of exclusive possession.
• C) An oral lease is never enforceable.
• D) The term of a lease must be for a definite period of time.
• E) Leases are only available in residential tenancies.

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Definitions:

Agreement

A mutual arrangement, typically in writing, between two or more parties detailing the terms and conditions of a deal or partnership.

Conditional Sale Contract

An agreement to sell an asset where the full payment is due after certain conditions have been met.

Simple Interest

Interest calculated on the principal amount of a loan or deposit, without compounding over time.

Finance Company

A business that provides loans to individuals and commercial customers that may not be able to secure financing through traditional banking channels.