Lease Agreement Quiz

What is the duration of the lease agreement?

What happens if the tenant cannot take occupation of the premises on the effective date?

What happens if the parties fail to agree on the terms of the addendum or new lease agreement?

Can the lease agreement be extended or replaced with a new lease agreement?

How much notice is required to terminate the lease agreement on a month-to-month basis?

What happens if the lease agreement continues on a month-to-month basis?

When will the tenant have the financial benefit of the specified items?

This is a lease agreement between a landlord and a tenant for the use and enjoyment of the premises.
The duration of the lease agreement can be less than or more than 24 months.
The lease agreement will terminate on the date specified, unless cancelled or terminated earlier.
If the tenant cannot take occupation of the premises on or before the effective date, the landlord will not be liable for any damages suffered by the tenant.
The lease agreement will automatically continue on a month-to-month basis unless otherwise agreed upon.
The lease agreement can be extended for a further fixed-term period or replaced with a new lease agreement.
If the parties fail to agree on the terms of the addendum or new lease agreement, the lease agreement will continue on a month-to-month basis.
Either party can terminate the lease agreement on a month-to-month basis with one calendar month's written notice.
If the lease agreement continues on a month-to-month basis, the provisions of Section 14 of the Consumer Protection Act will no longer apply.
The tenant will have the financial benefit of the items specified if the lease agreement is for more than 24 months.

Test your understanding of lease agreements with this quiz! From duration to termination, this quiz covers important aspects of a lease agreement between a landlord and tenant. Brush up on your knowledge of rental contracts and take the quiz today. Keywords: lease agreement, landlord, tenant, duration, termination, month-to-month, fixed-term, Consumer Protection Act.