New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Option to determine lease:- Where the time so limited is

    expressed to be terminable before its expiration, and the lease omits to mention at whose option it is so terminable. 
    A Only the lessor shall have such option Correct Answer Incorrect Answer
    B Only the lessee shall have such option Correct Answer Incorrect Answer
    C The lessor & lessee have such option Correct Answer Incorrect Answer
    D None of the above Correct Answer Incorrect Answer

    Solution

    Transfer of Property Act: Section 110 Exclusion of day on which term commences: Where the time so limited is a year or a number of years, in the absence of an express agreement to the contrary, the lease shall last during the whole anniversary of the day from which such time commences. Option to determine lease—Where the time so limited is expressed to be terminable before its expiration, and the lease omits to mention at whose option it is so terminable, the lessee, and not the lessor, shall have such option.  

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