Common Contracts
1 similar null contracts
UNIT-2 Leasing concept - types, Advantages, Limitations Meaning-May 17th, 2022
Leasing means an agreement between the leasing company (called lessor) and the user (called lessee), under which the former undertakes to buy the capital equipment for use by the latter. The lessor remains owner of the asset during the specified period and the owner is assured consistent payment over the agreed period. The lessee has to pay rentals to the lessor. Both the lessee and the lessor face consequences if they fail to uphold the terms of the contract. A lease is a form of incorporeal right.
