Common Contracts
1 similar Lease Agreement contracts
LEASINGLease Agreement • February 29th, 2016
At the end of the period of contract (Lease period), the asset/equipment reverts to the lessor unless there is a provision for renewal of contract. Thus leasing is a device for financing the cost of an asset. The real function of lessor is not renting the asset but financing/funding the asset, which the lessee wants for his use. The lessor does riot take recourse to the asset / equipment as long as the rentals are regularly paid to him.
