Multiple Choice. Please read the hypothetical scenario and…
Multiple Choice. Please read the hypothetical scenario and answer the question that follows. Business owners Jane and Sally signed a commercial lease for a term of five years on a property zoned for commercial use. The premises was a two story building and included a stairway which led to a flat roof. When first visiting the property Jane and Sally quickly saw that the view from the roof was fabulous. In fact, that was the feature that swayed them into leasing the property. When they left they excitedly discussed their vision of adding a rooftop patio, a decorative fountain, and a small garden with a seating area for customers. They believed it would be a real draw regarding their business. After signing the lease, they chose a contractor who immediately attempted to get a permit from the city in order to begin construction. The city engineer told the contractor that the property was unfortunately located in a particular area in which the zoning regulations would not permit any pools, fountains, or water receptacles of any kind on the roof. The zoning codes also disallowed dirt being placed on the roof in quantities over a total of 20 pounds. Jane and Sally were so upset that they decided to go to their landlord and terminate the lease. They reasoned that the zoning restrictions were an impediment to their business plans. They had looked at some properties several blocks away that did not have stringent zoning restrictions and they had already picked out something they really wanted. Is it likely that business partners Jane and Sally will be able to terminate the lease with their current landlord?
Read DetailsTRUE/FALSEIn a commercial lease, the lessor (landlord) has t…
TRUE/FALSEIn a commercial lease, the lessor (landlord) has the authority to set up the rent to request 3% of anticipated annual sales and if the sales exceed the anticipated amount, the lessor can also request 3% of the sales that exceed expectations.
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