Final answer:
The transfer of the remaining lease term from Liable to L is explained by privity of estate, which relates to the legal relationship established when property rights are transferred in accordance with principles of justice in acquisition and transfer.
Step-by-step explanation:
The question involves the concept of privity, which is a fundamental principle in property law. There are various types of privity that affect the rights and obligations of parties in property transactions. These include privity of estate, privity of contract, privity of possession, and privity of title. In the context of a transfer of the remaining term of a lease or ownership, the most applicable concept is privity of estate. Privity of estate refers to the legal relationship that exists between parties whose estates constitute a whole.
Per the three rights listed by Locke: life, liberty, and estate, individuals can acquire holdings legally through initial acquisition or transfer from another legally entitled holder. These can be related back to principles of justice in acquisition and transfer, as every person is only entitled to a holding by these just methods. The complete transfer of the remaining term from one party ('Liable') to another ('L') is justified when it's done in accordance with these principles of justice in transfer, as it establishes a new privity of estate, and thereby the rightful possession of the property in question.