Business Law25 and 25

Business Law25 and 25 - 2. How does a lease compare with a...

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Business law chapter 24 and 25 Gillian Schroeder Ch. 24 1. What five elements are necessary for the creation of landlord –tenant relationship? 1. Consent of the landlord to the occupancy by the tenant, 2. Transfer of possession and control of the property to the tenant in an inferior position to the rights of a landlord. 3. The right by the landlord to return of the property, called the right of reversion. 4. The creation of ownership interest in the tenant known as a leadership estate. 5. Either an express of implied contract of implied contract between the parties that satisfies all the essentials of a valid contract.
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Unformatted text preview: 2. How does a lease compare with a license and with lodging? it gives a interest in real property and transfers possession. 3. In what ways do the following tenants differ: tenancy for years, periodic tenancy, tenancy at will, and tenancy and sufferance? The tenants have different rules, and terms. Ch. 25 1. Because probate deals with ones handling of an estate, and because each state is different in the way things are handled. 2. When sole properties die, the assets of their business pass on to their according states and so on....
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This note was uploaded on 07/04/2010 for the course MGMT 101 taught by Professor Haitt during the Spring '10 term at Buena Vista.

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Business Law25 and 25 - 2. How does a lease compare with a...

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