Lease

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Revision as of 15:37, 27 August 2020 by imported>Doug Williamson (Add example.)
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A contract for the owner of an asset (the lessor) to offer rights to use the asset to another party (the lessee) for a certain period.

In return, the lessee makes payments of pre-determined amounts to the lessor.


For example, if we lease a vehicle for a monthly payment we are entitled to use it. But we are not the owner.


See also