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?

A. Only 2

B. 1, 3 and 4

C. 1 and 4

D. 2, 3 and 4

Answer: Option B