Question
Question 1: Which tenant is MOST likely to be able to leave the leasehold premises without having to pay further rent or otherwise honor the
Question 1: Which tenant is MOST likely to be able to leave the leasehold premises without having to pay further rent or otherwise honor the terms of the lease where the landlord has assumed the duty to maintain and repair the leased premises.
A. The heating unit in Mark's retail clothing store breaks down on an afternoon when it is 10 degrees below zero outside, and Landlord tells Mark he will not be able to fix it until the next day and brings over a portable space heater which keeps his store temperature at approximately 68 degrees for the day.
B. The air conditioner for Kelly's restaurant has not worked since she rented the premises in April, and now it is July and temperatures are above 100 degrees but Landlord tells her that she should get it fixed herself and send him the bill.
C. Despite Landlord's repeated repair attempts, the elevator in Linus's 4th floor residential apartment has not worked since he moved in six weeks ago.
D. The owners of the house next to Sid and Nancys' rental home are raising purebred dogs and they bark all day but Landlord refuses to fix anything about it.
Question 2: Fred Farmer owns 100 acres of prime farmland in lowa land. The land is subject to a $100,000 purchase money mortgage from Owen, the original owner of the farm, and a $25,000 second mortgage with the low Farmers Credit Union which Farmer used the proceeds to purchase a tractor. There are no acceleration or due on sale clauses in the purchase money mortgage held by Owen.
Farmer fell two months behind on his purchase money mortgage payments to Owen, who brings a foreclosure action. A few days before the date set for the foreclosure sale, Farmer sells his tractor to come up with the money needed to bring his mortgage payments to Owen up to date. Owen refuses to accept the Farmer's money and will not terminate the foreclosure action. What is the most accurate statement of Farmer's legal rights?
A. Owen does not have the right to redeem the mortgage because the tractor was not pledged as security for the purchase money mortgage.
B. Owen has the right to redeem the mortgage because courts abhor a forfeiture, particularly for a trivial breach of the mortgage terms.
C. Farmer has the right to exercise his equitable right of redemption and stop the foreclosure sale before it occurs.
D. Farmer does not have the right to redeem the mortgage having gone into default and therefore clogging his equity of redemption.
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