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Author Question: Jessica Waters has leased an apartment at the Crown Arms, located in a state that has adopted the ... (Read 44 times)

lidoalex

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on: Jun 24, 2018
Jessica Waters has leased an apartment at the Crown Arms, located in a state that has adopted the URLTA. The lease will run from July 1, 2012 through June 30, 2013. The following is a summary of the move-in charges she is presented with by her landlord on her move-in date of July 1, 2012:  794 rent for July 200 cleaning deposit 300 pet deposit for Jessica's cat 200 redecorating deposit 50 environmental charge for cleaning solvent disposal 794 rent for the last month rent (June 2013) Jessica is not sure from the lease whether she can get any of the funds back. Discuss whether the deposits are valid and if the amounts, including the total, meet URLTA requirements.

Question 2

Most courts hold that joint ventures operate under the same legal principles as partnerships except: ______.
 A) a joint venture shares profits and losses.
 B)a joint venture involves capital contributions from all the owners.
 C)a joint venture does not require a written agreement.
 D)a joint venture typically involves a single limited purpose.


fromAlphatoOmega22

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Reply #1 on: Jun 24, 2018
Answer to Question 1

The following issues are important. Under the URLTA, the landlord can collect various deposits, but must list them and reveal whether they will be refundable. In addition, the amounts are limited. For example, a typical provision is that the total amount of deposits cannot exceed 1  times the monthly rent. If so, the landlord here would have a problem. In addition, states differ on whether prepaid rent is considered part of the security deposit. The security deposit cannot exceed one month's rent so if the prepaid rent is included, the landlord here has gone over the URLTA maximum.

Answer to Question 2

D


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