Consider the following statements regarding the distinction between lease and licence: (1) A lease is a transfer of an interest in land, whereas the licence does not create any interest in land (2) Both lessee and licence-holders can sue a trespasser in his own name (3) A lease can be assigned but a licence cannot be assigned (4) A lease cannot be revoked until the end of the term, but a licence, subject to certain exceptions, can be revoked Which one of the above statements is/are correct?

Answer: Option B