Under what circumstances can a tenant invoke the doctrine of constructive eviction?
What will be an ideal response?
When a property becomes unsuitable for the purposes for which it was leased because of the landlord's act or omission, a tenant may invoke the doctrine of constructive eviction. Under this doctrine, which applies to both residential and commercial property, the tenant may terminate the lease because she has effectively been evicted as a result of the poor condition or the objectionable circumstances there. Constructive eviction gives a tenant the right to vacate the property without further rent obligation provided he or she does so promptly after giving the landlord reasonable notice and an opportunity to correct the problem.
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Nelly Company sold its cattle ranching component on June 30, 2016, for a gain of $1,000,000. From January through June, the component had sustained operating income of $300,000. The income tax rate is 35%. How should Nelly report the income and the sale on its income statement?
A) as $300,000 operating income and a $1,000,000 gain on sale of component B) as a $1,300,000 gain in operating income C) as a net of tax gain of $845,000 after income from continuing operations D) as $195,000 operating income and a $650,000 gain on sale of the component
________ is conducted on a small and nonrepresentative sample, so the findings should be regarded as tentative and should be used as building blocks for further research
A) Causal research B) Exploratory research C) Conclusive research D) Descriptive research E) Focused research
All of the following are advantages of longitudinal designs over cross-sectional designs (Table 3.4 in the text) except ________
A) detecting change B) accuracy C) large amount of data collection D) representative sampling
The Financial Accounting Foundation (FAF) is the parent organization of which of the following organizations?
A. AICPA (American Institute of Certified Public Accountants) B. AAA (American Accounting Association) C. SIFMA (Securities Industry and Financial Markets Association) D. FASB (Financial Accounting Standards Board)