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Henry,a Promoter,signs a Five-Year Lease Agreement for Office Space for Ajax

Question 21

Multiple Choice

Henry,a promoter,signs a five-year lease agreement for office space for Ajax Corp. ,which has not yet been formed.After formation,Ajax moves into the office space,pays rent and occupies it for six months,but then finds a cheaper location and moves out.Which party is liable on the lease?


A) Henry
B) Ajax
C) No one,since it was a tenancy at will
D) Both Henry and Ajax

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