Leasehold Quiz

Question 1

L and T sign an agreement that reads, “The term is one year, beginning
September 1.”

Answer 1

Term of years

Question 2

L and T sign a lease that reads, “This agreement lasts as long as the parties
consent.”

Answer 2

TAwill

Question 3

L and T sign an agreement that reads, “The lease will run from September
1 until the following August 31. One thousand dollars payable on the first of every
month.”

Answer 3

Toyears

Question 4

L and T enter a lease that reads in relevant part, “the rent is $48,000 per
year, payable $4,000 on the first of each month.”

Answer 4

Periodic tenancy

Question 5

L and T enter a lease that reads, “the rent is $1,000 per month.”

Answer 5

Periodic Tenancy (no defined end date)

Question 6

L and T enter a lease that reads, “the rent is $1,000 per month and lasts
until the tenant completes medical school.”

Answer 6

Tawill

Question 7

L and T are negotiating on the phone over an apartment lease. At the end
of the conversation L says, “Have we got a deal? Five years lease with rent at $10,000 a
year?” T replies, “Great. I accept. It’s a deal.”

Answer 7

SOF issue