Mike Has a Three-Year Lease on the Apartment He Occupies

question 64

Multiple Choice

Mike has a three-year lease on the apartment he occupies.He has lived there one year.He now wants to leave and go to Aspen,Colorado to be a ski instructor.However,Mike's landlord will not release him from the lease,and threatens to sue him if he breaks his lease.Mike finds Paul to take over the last two years of the lease,but Mike is worried that Paul might cause damage or in other ways inflict loss and that he,Mike,might be held financially responsible.In order to assure Mike that he will be completely discharged from all obligations under his lease,Mike should attempt to bring about:

• A)an assignment.
• B)a novation.
• C)either an assignment or novation-it will not affect Mike's future liability.
• D)neither an assignment nor a novation-both will not accomplish Mike's objective.

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Definitions:

Fugitive Slave Act

Legislation passed in the United States that required the return of escaped slaves to their owners, even from states where slavery was banned.

Texas

A state located in the southern region of the United States, known for its significant contributions to American history, culture, and economy.

Slaves

individuals who are forcibly held and made to work without freedom or personal rights.