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Derive the first-order and second-order conditions for perfect competition.
Quiet Enjoyment
The right of a property owner or tenant to enjoy and use premises in peace and without interference.
Periodic Tenancy
A lease agreement that continues for successive periods until terminated by either party.
Tenancy at Sufferance
A situation where a tenant continues to live in a property after their lease has ended without the consent of the landlord.
Notice to Quit
A written notification given by a landlord to a tenant to vacate the premises within a specified time frame, usually for violating terms of the lease or for holding over beyond the lease term.
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