Business Law Property

Patents are good for ten years and are renewable. Indicate whether the statement is true or false.

• True

• False

The most common way property may be acquired and transferred is by contract. Indicate whether the statement is true or false.

• True

• False

Landlords generally do not have a right to enter leased premises for inspection unless this right is given in the lease. Indicate whether the statement is true or false.

• True

• False

Constructive eviction allows the tenant to withhold rent. Indicate whether the statement is true or false.

• True

• False

At the end of his one-year lease, Tom continued to occupy his apartment and failed to procure another lease. What type of tenancy does Tom have?

• none

• tenancy at will

• tenancy from month to month

• tenancy at sufferance

When a tenant transfers the entire interest in the lease to a third person,

• an assignment of a lease takes place.

• the new tenant is liable for the conditions of the lease.

• the original tenant remains liable for the conditions of the lease.

• all of these.

A notice of termination is required to end

• a periodic tenancy.

• a tenancy for years.

• a tenancy at will.

• all of these.

When adverse possession occurs,

• the occupation is without the consent of the owner.

• the occupation is open and notorious.

• the possession is continuous for a minimum of the number of years required by statute.

• all of these.

The possessor of realty has the duty to disclose any known non-obvious dangers and to refrain from doing intentional harm to

• a business invitee.

• a licensee.

• a trespasser.

• both a and b.

Will, a bachelor, has purchased gold-plated baseball cards on a monthly basis for three years. Will is the exclusive owner of this collection. Which of the following terms correctly identifies his type of ownership?

• tenancy in common

• ownership in severalty

• individual property

• community property