When a Landlord Seizes Property Left by the Tenant and Holds

question 97

Multiple Choice

When a landlord seizes property left by the tenant and holds it until the rent is paid or sells it to pay rent owing, this is referred to as

• A) relief against forfeiture.
• B) tenancy at sufferance.
• C) distress.
• D) an order nisi.
• E) an order absolute.

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Definitions:

Indirect Bankruptcy Costs

Expenses that are not directly tied to the bankruptcy filing process but arise as a result of the company's financial distress, such as lost sales or reduced creditworthiness.

Financial Distress

A scenario in which a business is unable or struggles to fulfill its financial commitments to its lenders.

Financial Distress Costs

Expenses associated with a company’s financial distress, including bankruptcy costs, legal fees, and lost revenues.

Financial Distress

A situation where a company struggles to meet or has difficulty in paying off its financial obligations to creditors.