• Kendra leases an office from Land & Building Company (LBC) for a four-year term with the rent payable monthly. At the end of the term, Kendra retains possession of the office with LBC's consent and continues to pay monthly rent. This is

a. a tenancy at will

b. a periodic tenancy.

c. a tenancy at sufferance.

d. a fixed term tenancy

• Barbara and Johann are parties to a contract. They agree on a novation. The novation requires..

a. consideration greater than $500

b. the substitution of a new party to the agreement, and the departure of an original party

c. an accord and satisfaction

d. Performance of the original contract by all of the parties

• You break your apartment lease with six months remaining on your contract. Your landlord will be expected to..

a. leave your apartment vacant for the remaining lease term

b. try and find a new tenant to mitigate damages

c. do nothing, as you are the party at fault

d. sue you immediately

• Pico, a famous chef, pays $500 to ship his custom pies with FedEx. During transit, a storm knocks over a telephone pole which smashes into the FedEx truck carrying the pies. Is FedEx liable for the damage to the pies?

a. yes, because Pico paid over $500 for the shipment

b. Yes, because common carriers are absolutely liable for all damage caused in a mutual benefit bailment

c. No, because the storm was not foreseeable at the time the contract was made

d. No, because the storm could be considered an "act of God" (force majeure)

• Chuck is sitting on a park bench listening to his Walkman and reading a book.Sarah comes up to chat, and Chuck takes off his headphones and places them and the Walkman on the bench. The two agree to get lunch, and Chuck accidentally leaves the Walkman behind. Casey comes by a few minutes later, notices the Walkman on the bench, and takes it for himself. Chuck comes running back and sees Casey with the Walkman. Who is the rightful owner?

a. Chuck, because the Walkman was only mislaid

b. Chuck, because the Walkman was only lost

c. Casey because Chuck abandoned the Walkman

d. Casey because Chuck's carelessness deprived him of his right of ownership, consistent with public policy

• Ben is going on vacation and asks Ivy to watch his limited edition Gibson Les Paul guitar while he is away. He delivers it to her house in a temperature-controlled case and instructs her not to open it. Ivy agrees. That weekend, she has a raging house party and leaves the guitar out in the living room.A drunk reveler opens the case and breaks a string trying to imitate Slash. Can Ben hold Ivy liable for the damage to his guitar?

a. All of the choices

b. Yes, because Ivy did not exercise a reasonable standard of care

c. Yes, because Ivy did not follow the terms of the bailment agreement