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MMLU / A landowner owned a large building in the city. On January 15, the landowner…

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question

A landowner owned a large building in the city. On January 15, the landowner leased the building to a tenant for a period of 20 years at a rental of $10,000 per month. The leasehold agreement between the landowner and tenant 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. " On February 1 of the following year, the tenant leased the premises to a corporation that did not have the required credit rating. The tenant €”corporation lease was for a period of five years, with a rental of $15,000 per month, payable by the corporation to the tenant. In addition, the corporation agreed to abide "by all of the terms and conditions of the lease between the landowner and tenant. "Which of the following accurately states the legal effect of the non-assignability clause contained in the landowner €”tenant leasehold contract?
Plain-text mathematical notation (without MathML)
A landowner owned a large building in the city. On January 15, the landowner leased the building to a tenant for a period of 20 years at a rental of $10,000 per month. The leasehold agreement between the landowner and tenant 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. " On February 1 of the following year, the tenant leased the premises to a corporation that did not have the required credit rating. The tenant €”corporation lease was for a period of five years, with a rental of $15,000 per month, payable by the corporation to the tenant. In addition, the corporation agreed to abide "by all of the terms and conditions of the lease between the landowner and tenant. "Which of the following accurately states the legal effect of the non-assignability clause contained in the landowner €”tenant leasehold contract?
Original LaTeX notation
A landowner owned a large building in the city. On January 15, the landowner leased the building to a tenant for a period of 20 years at a rental of $10,000 per month. The leasehold agreement between the landowner and tenant 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. " On February 1 of the following year, the tenant leased the premises to a corporation that did not have the required credit rating. The tenant €”corporation lease was for a period of five years, with a rental of $15,000 per month, payable by the corporation to the tenant. In addition, the corporation agreed to abide "by all of the terms and conditions of the lease between the landowner and tenant. "Which of the following accurately states the legal effect of the non-assignability clause contained in the landowner €”tenant leasehold contract?

choices

  1. The non-assignability provision had no legal effect.
  2. The non-assignability provision made the assignment from the tenant to the corporation ineffective.
  3. The tenant-corporation lease did not effectuate a breach of the landowner €”tenant contract.
  4. Although the tenant-corporation lease constituted a breach of the landowner €”tenant contract, the landowner would nevertheless be required to recognize the validity of the transfer (of the premises) to the corporation.

subject

professional_law

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Source and history

task_id
85b980de-e51b-53b0-81aa-2e68efa6f250
task_key
all--test--85b980de-e51b-53b0-81aa-2e68efa6f250
task_revision_id
1
config / split
all / test

Official source

initial import