Arnold Properties, Inc. had entered into a lease agreement with Janet for a residential house. Janet made
Question:
Arnold Properties, Inc. had entered into a lease agreement with Janet for a residential house. Janet made four subsequent monthly payments. At the end of the four months, Janet learned that she was to be transferred to a new job in another state. Janet approached her landlord and explained her situation. The landlord was unsympathetic and refused to release Janet from her rent. The landlord insisted on enforcement of rental payment for the duration of the lease, which was for one year. Janet had not provided for a release in her lease to cover the possibility of a job transfer. Must Janet pay for the remaining eight months of rent even if she is not in physical possession of the property?
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield