Identify the Correct Statement About Abandonment

question 31

Multiple Choice

Identify the correct statement about abandonment.

• A) When a tenant abandons the leased property, the landlord has a duty to accept the offer.
• B) The landlord cannot sue the tenant for the rent due for the remainder of the term.
• C) If a tenant abandons the leased property, he is making an offer to surrender the leasehold.
• D) A tenant can abandon a property only after the termination of a lease.

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Definitions:

Merchandising Company

A company that purchases and sells tangible inventory to customers without changing its form.

Service Company

A business entity that provides intangible products or services to consumers or other businesses.

FOB Shipping Point

A term used in shipping that indicates that the buyer is responsible for the cost and risk of transport as soon as the goods are loaded onto the shipping vehicle.

Freight Costs

Expenses associated with transporting goods from one place to another, which could include shipping, trucking, and other logistical expenses.