Lease: Difference between revisions
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imported>Doug Williamson (Add example.) |
imported>Doug Williamson (Layout.) |
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For example, if we lease a vehicle for a monthly payment we are entitled to use it. But we are not the owner. | For example, if we lease a vehicle for a monthly payment we are entitled to '''use''' it. | ||
But we are not the '''owner''' of the vehicle. | |||
Revision as of 13:34, 8 September 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 of the vehicle.
