Describe a Sublease

question 13

Essay

Describe a sublease.To whom is a sublessee liable in the event that the sublessee fails to pay rent? Can the original lessor hold the sublessor liable in the event a sublessee fails to pay rent?

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Definitions:

Office Equipment

Tangible property (such as desks, chairs, computers, etc.) used in an office environment to perform work activities.

Patent

A legal right granted by a government authority to an inventor to exclude others from making, using, or selling an invention for a certain period of time.

Merchandise Inventory

Goods that a company has in stock and available for sale to customers.

Office Supplies

Items used in offices by businesses and other organizations, typically including small expendable items such as pens, paper, staples, and envelopes.