A lessee accepts from the lessor a new lease of the property leased, to take effect during the continuance of the existing lease. This:
Verified Answer
A. converts the former lease into exchange
B. converts the former lease into a perpetual lease
C. is an implied surrender of the former lease
D. is a voidable agreement
Explanation:
As per Section 111(f) of the Transfer of Property Act, acceptance of a new lease during the continuance of an existing lease implies a surrender of the former lease.