BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -Residential agreements can be from 11 month, 3 years to 5 years or more. Generally, people (both tenants as well as landlords) make a rental agreement for 11 months. This is done to avoid the stamp duty charges. However, there is no such rule that the residential rental agreement cannot be extended.
Detailed explanation-2: -Tenancy Conditions means the conditions on the basis of which the Council’s tenants occupy the Dwellings and shall be deemed to include all the rights and obligations of the Council’s tenants whether statutory or contractual and whether or not expressly incorporated.
Detailed explanation-3: -A lease agreement is an arrangement between two parties – lessor and lessee, by which the lessor allows the lessee the right to use a property owned or managed by the lessor for a specified period of time, in exchange for periodic payment of rentals. The agreement does not provide ownership rights to the lessee.