Marian Met with the Owner of a Warehouse and Contracted

question 80

Multiple Choice

Marian met with the owner of a warehouse and contracted for factory space for a two-year term.The amount to be paid ($2400 yearly) and the premises were made clear,but nothing else was discussed.The law,however,implies some terms.Which of the following is a term of the contract?

• A)The landowner has no obligation to provide vacant possession at the time the lease period is to start.
• B)The premises will be reasonably fit for Marian's purpose.
• C)The tenant is responsible for normal wear and tear.
• D)The landlord need not provide quiet enjoyment of the premises.
• E)Usually neither the landlord nor the tenant has an obligation to make repairs where normal wear and tear is involved.

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Definitions:

Standard Price

A pre-determined cost allocated to a single unit of product or service, used for budgeting and performance evaluation.

Ideal Standards

Standards that assume peak efficiency at all times.

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the expected (standard) quantity, multiplied by the standard cost of those materials.

National Distribution

The process of distributing products or goods across an entire country, often involving multiple transportation and logistics strategies.