Even After a Tenant Sublets Leased Premises, the Tenant May

question 52

True/False

Even after a tenant sublets leased premises, the tenant may be obligated to pay rent.

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Definitions:

Recognizance

An obligation in which a party acknowledges in court that he or she will perform some specified act and/or pay a price on failure to do so.

Formal Contract

A legally binding agreement that requires a specific form, such as being in writing, to be valid.

Bond

A fixed income investment in which an investor loans money to an entity that borrows the funds for a defined period.

Restatement (Second)

A collection of model legal rules and principles meant to clarify the common law in the United States, not binding but influential.