Lease: Difference between revisions
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imported>Doug Williamson m (Link with FMS page.) |
imported>Doug Williamson (Add example.) |
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In return, the lessee makes payments of pre-determined amounts to the lessor. | 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. | |||
Revision as of 15:37, 27 August 2020
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.
