Lease and License Quiz

What is the main difference between lease and license?

• Lease and license are the same thing

• Lease is for short-term use, while license is for long-term use

• Lease gives exclusive possession, while license gives permission to use for a specific purpose.

• Lease is for commercial properties, while license is for residential properties

What are the essential elements of a lease according to UK cases?

• Exclusive possession, lease term, and rent

• intention to create a lease, lease term, and rent

• A document entitled "Lease Agreement"

• The intention to create a lease

What are the essential elements of a lease according to some Carribbean cases?

• Exclusive possession, lease term, and rent

• intention to create a lease must be considered along with Exclusive possession, lease term, and rent

• A document entitled "Lease Agreement"

• The intention to create a lease only

In a lease agreement, who is the lessor and who is the lessee?

• The lessor is the borrower and the lessee is the lender

• The lessor is the landlord or owner, and the lessee is the tenant or renter.

• The lessor is the tenant and the lessee is the landlord

• The lessor is the buyer and the lessee is the seller

What is the duration of a lease agreement?

• 10 years

• The duration of a lease agreement varies depending on the terms agreed upon by the landlord and tenant.

• 6 months

• 1 week

Lord Templeman in Street v Mountford (1985) set out the essential features of a lease. Which one of the following statements correctly identifies these classic characteristics?

• The grant of exclusion possession, for a certain term at a rent.

• The grant of exclusion possession

• Certainty of term and the payment of a rent

• The intention to create a lease

What is meant by 'exclusive possession'? Which one of the following statements accurately describes the current law?

• 'Exclusive possession' is synonymous with 'exclusive occupation.'

• 'Exclusive possession' means the tenant has the right to exclude the world at large except the landlord.

• 'Exclusive possession' means the tenant has the right to exclude the world at large including the landlord (subject to the terms of the lease).

• 'Exclusive possession' means the tenant has the right to exclude everyone except new owners of the property.

WHich of the following is not true of a lease

• it is for a term of several years

• it can be terminated at any time

• The lessee has exclusive possession

• The lessee has and interest in the land

In what situation might the period of a tenancy be considered uncertain?

• When the lease is granted for 99 years

• When the lease is granted until a specific event occurs

• ) When the lease is granted for an indefinite period

• When the lease is granted for a week