Fact Pattern 19-1

question 35

Multiple Choice

Fact Pattern 19-1
Rico signs a lease on behalf of Start-Up Games, Inc., with Tower Office Suites. As part of the lease, Rico signs a document titled “GUARANTY,” which states that it is “an absolute guaranty” of the lease’s performance.
-Refer to Fact Pattern 19-1.The reason for the result in the previous question is that

• A)Rico signed a "GUARANTY."
• B)Tower Office Suites owns the property and can re-rent the premises.
• C)the other tenants can equitably absorb a slight increase in rent.
• D)Start-Up will likely move out when it stops paying the rent.

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Definitions:

Credit Cards

Payment cards issued by financial institutions that allow cardholders to borrow funds with which to pay for goods and services with the condition of paying back the borrowed money, plus interest, as well as agreeing to any agreed charges.

Teller Transaction

A banking transaction conducted with a bank employee, such as a deposit or withdrawal, rather than through an automated mechanism.

ATM Transaction

An action carried out through an Automated Teller Machine (ATM), such as withdrawing cash, depositing funds, or checking account balances.

Barter Economy

An economic system where goods and services are exchanged directly for other goods and services without the use of money as a medium.