Brick & Mortar Inc.signs a lease for a storefront owned by Commercial Properties Inc.The lease does not specify how long it is to last but does specify that rent is to be paid at certain intervals.This is
A) a periodic tenancy.
B) a fixed-term tenancy.
C) a license.
D) a tenancy by the entirety.

Question

Quizplus · Accepted Answer

A periodic tenancy is a lease agreement that runs continuously for a specific period and is renewed automatically at the end of each period until either party decides to terminate it. In this case, since the lease does not specify how long it is to last and only specifies rent payment intervals, it is likely a periodic tenancy agreement.