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MMLU-Pro / 1002 / A property owner owned a large building in the city. The owner leased the…
Problem
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question
A property owner owned a large building in the city. The owner leased the building to a shopkeeper for a period of 20 years at a rental of
$10,000 per month. The leasehold agreement between property owner and shopkeeper provided that the latter was not permitted "to assign this lease to anyone except a corporation with an A' credit rating from a well- known credit rating company. " One month later, the shopkeeper leased the premises to a corporation that did not have the required credit rating. The shopkeeper-corporation lease was for a period of five years, with a rental of $15,000 per month, payable by the corporation to the shopkeeper. In addition, the corporation agreed to abide "by all of the terms and conditions of the lease between the property owner and the shopkeeper. "One year later, the corporation leased the premises to a non-profit organization for the balance of the term of the corporation shopkeeper lease. The non-profit organization took possession of the said premises the same day that the corporation vacated its occupancy. Pursuant to the corporation nonprofit leasehold agreement, the latter was obligated to pay a monthly rental of $17,500 directly to the corporation. The non-profit organization has a B' credit rating with the well-known credit rating company. Which of the following is not correct regarding the legal relationship(s) of the various parties?Plain-text mathematical notation (without MathML)
A property owner owned a large building in the city. The owner leased the building to a shopkeeper for a period of 20 years at a rental of $10,000 per month. The leasehold agreement between property owner and shopkeeper provided that the latter was not permitted "to assign this lease to anyone except a corporation with an A' credit rating from a well- known credit rating company. " One month later, the shopkeeper leased the premises to a corporation that did not have the required credit rating. The shopkeeper-corporation lease was for a period of five years, with a rental of $15,000 per month, payable by the corporation to the shopkeeper. In addition, the corporation agreed to abide "by all of the terms and conditions of the lease between the property owner and the shopkeeper. "One year later, the corporation leased the premises to a non-profit organization for the balance of the term of the corporation shopkeeper lease. The non-profit organization took possession of the said premises the same day that the corporation vacated its occupancy. Pursuant to the corporation nonprofit leasehold agreement, the latter was obligated to pay a monthly rental of $17,500 directly to the corporation. The non-profit organization has a B' credit rating with the well-known credit rating company. Which of the following is not correct regarding the legal relationship(s) of the various parties?
Original LaTeX notation
A property owner owned a large building in the city. The owner leased the building to a shopkeeper for a period of 20 years at a rental of $10,000 per month. The leasehold agreement between property owner and shopkeeper provided that the latter was not permitted "to assign this lease to anyone except a corporation with an A' credit rating from a well- known credit rating company. " One month later, the shopkeeper leased the premises to a corporation that did not have the required credit rating. The shopkeeper-corporation lease was for a period of five years, with a rental of $15,000 per month, payable by the corporation to the shopkeeper. In addition, the corporation agreed to abide "by all of the terms and conditions of the lease between the property owner and the shopkeeper. "One year later, the corporation leased the premises to a non-profit organization for the balance of the term of the corporation shopkeeper lease. The non-profit organization took possession of the said premises the same day that the corporation vacated its occupancy. Pursuant to the corporation nonprofit leasehold agreement, the latter was obligated to pay a monthly rental of $17,500 directly to the corporation. The non-profit organization has a B' credit rating with the well-known credit rating company. Which of the following is not correct regarding the legal relationship(s) of the various parties?
category
law
options
- Privity of estate and privity of contract exist between the property owner and the non-profit organization.
- Privity of estate and privity of contract exist between the corporation and the non-profit organization.
- Privity of contract, but not privity of estate, exists between the shopkeeper and the non-profit organization.
- Privity of estate and privity of contract exist between the property owner and the shopkeeper.
- Privily of estate, but not privily of contract, exists between property owner and the corporation.
- Neither privity of estate nor privity of contract exists between the shopkeeper and the non-profit organization.
- Neither privily of estate nor privily of contract exists between the property owner and the nonprofit organization.
- Neither privity of estate nor privity of contract exists between the corporation and the non-profit organization.
- Privily of estate and privity of contract exist between the shopkeeper and the corporation.
- Privity of contract, but not privity of estate, exists between the property owner and the corporation.
src
ori_mmlu-professional_law
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