Which of the Following Is a Distinguishing Characteristic of a Tenancy

Which of the following is a distinguishing characteristic of a tenancy that runs from fiscal year to fiscal year?

A) Either party may use the land as security for a loan for the duration of a lease term.
B) Tenancy automatically renews unless notice of termination is given prior to expiry.
C) Either party will be bound by mutual obligations to negotiate a renewal or extension.
D) Tenancy terminates unless renegotiated on each fiscal year-end date in the tenancy lease.