Understanding Leases: Types and Key Features
LEAS stands for Lease.
A lease is a contract between two parties, the lessor (the party who owns the asset) and the lessee (the party who is renting the asset), that grants the lessee the right to use the asset for a specified period of time in exchange for regular payments called lease rentals.
Leases are commonly used for assets such as real estate, vehicles, and equipment, where the lessee does not want to purchase the asset outright but instead wants to use it for a specific period of time. Leases can be either finance leases or operating leases, depending on the nature of the transaction and the rights and obligations of the parties involved.
I like this
I dislike this
Report a content error
Share
