Question 1

Christy's new office lease states that rent will increase by 2% per year to cover tax increases.This is known as

Accepted Answer

A) a tax mitigation. 
B) an escalator clause. 
C) a fee escalation. 
D) a tax abatement. 
A) a tax mitigation. 
B) an escalator clause. 
C) a fee escalation. 
D) a tax abatement.

Question 2

You go to a theater to see a play one Saturday evening.You have

Accepted Answer

A) purchased an interest called a "profit." 
B) an easement by reservation. 
C) a license to enter the theater. 
D) no property right in the theater just by purchasing the ticket for the play. 
A) purchased an interest called a "profit." 
B) an easement by reservation. 
C) a license to enter the theater. 
D) no property right in the theater just by purchasing the ticket for the play.

Question 3

Ollie leased a building in Old Town.Ollie installed a washer and dryer unit and a new furnace in the basement of the building with new duct work throughout the building.Upon expiration of the lease,Ollie intends to remove the washer and dryer,but not the furnace.The washer and dryer can easily be removed without harming anything.Removal of the furnace,however,will damage the building.Are the washer,dryer,and furnace fixtures?

Accepted Answer

A) The washer, dryer, and furnace are all fixtures. 
B) The furnace is a fixture, but the washer and dryer are not. 
C) The washer and dryer are fixtures, but the furnace is not. 
D) The furnace and the washer are fixtures, but the dryer is not. 
A) The washer, dryer, and furnace are all fixtures. 
B) The furnace is a fixture, but the washer and dryer are not. 
C) The washer and dryer are fixtures, but the furnace is not. 
D) The furnace and the washer are fixtures, but the dryer is not.

Question 4

The Rameys are selling their home.They did not set forth in the sales agreement whether the washer and dryer,the draperies,and a cherry corner cabinet that was in the dining room were to be included in the sale or whether they were planning to take these items with them.The buyers are claiming these items are fixtures and should stay with the house.The Rameys are claiming they are movable goods and they should not be part of the real estate which was sold.Define "fixtures," identify the tests used to determine whether an item is a fixture,and explain whether you think each of the contested items is a fixture and why or why not.

Accepted Answer

Fixtures are goods that have become so a

Question 5

Unlike a tenant,a licensee

Accepted Answer

A) is not entitled to the exclusive possession of the property. 
B) is entitled to the exclusive possession of the property. 
C) has control of the property. 
D) has only a month-to-month right to use the property. 
A) is not entitled to the exclusive possession of the property. 
B) is entitled to the exclusive possession of the property. 
C) has control of the property. 
D) has only a month-to-month right to use the property.

Exam 42: Real Property and Landlord Tenant

Christy's new office lease states that rent will increase by 2% per year to cover tax increases.This is known as

You go to a theater to see a play one Saturday evening.You have

Unlike a tenant,a licensee

Introduction to Law

Business Ethics and Corporate Social Responsibility

International Law

Common Law, Statutory Law, and Administrative Law

Constitutional Law

Dispute Resolution

Crime

Intentional Torts and Business Torts

Negligence, Strict Liability, and Product Liability

Cyberlaw and Privacy

Introduction to Contracts

Agreement

Consideration

Legality

Capacity and Consent

Written Contracts

Third Parties

Performance, Breach and Discharge

Remedies

Practical Contracts

Introduction to Sales

Ownership, Risk and Warranties

Performance and Remedies

Secured Transactions

Creating a Negotiable Instrument

Liability for Negotiable Instruments

Accountants' Liability

Agency Law

Employment and Labor Law

Employment Discrimination

Starting a Business: LLCs and Other Options

Partnerships

Life and Death of a Corporation

Management Duties

Shareholder Rights

Bankruptcy

Securities Regulation

Antitrust

Consumer Protection

Environmental Law

Intellectual Property

Personal Property and Bailment

Planning for the Future: Estates and Insurance

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