Ron has a two-year commercial lease with Southward Realty Inc.for his insurance business located in Calgary,Alberta.The lease was entered into on July 1 of year 1 and runs until year 3.It is a yearly periodic lease.In October of year 1 Ron decides that he wants to terminate the lease and move to new premises on May 1 of year 2.If there is no termination clause in the lease,when must he give notice of termination?
A) April 1,year 1; the notice must be equal one tenancy period.
B) May 1; the notice must be equal to one tenancy period.
C) February 1; the legislation requires 60 days notice.
D) February 1; the rule at common law is 60 days notice.
E) As there is no termination clause,Ron cannot give notice to terminate the lease.
Correct Answer:
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