Caleb and His Friend Louie Agreed That Caleb Would Lease

question 5

Multiple Choice

Caleb and his friend Louie agreed that Caleb would lease an apartment from Louie for three months in the summer. On the date the lease was to begin, Caleb arrived at the apartment and discovered that Louie's friend, Sheila was already living there. In this scenario, Louie has violated the implied warranty of:

• A) liability.
• B) habitability.
• C) no-liability.
• D) possession.

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Definitions:

Highest Quintile

Refers to the top 20 percent of the population or distribution in terms of income, wealth, or other measurable attributes.

Income Received

The total amount of money or its equivalent received by an individual or organization before taxes and deductions.

Income Earned

The compensation received by individuals for their participation in productive activities, typically through wages, salaries, or profits.

Henry George

A 19th-century economist known for his ideas on taxation, particularly the proposal that a single tax on land value could replace all other taxes, thereby improving economic equality and efficiency.