What Is A Lease Agreement?

1.	What Is A Lease Agreement?
Answer» WRITTEN or implied CONTRACT by which an owner of a specific ASSET such as a parcel of land, building, EQUIPMENT, or machinery grants a second party the right to its EXCLUSIVE possession and use for a specific period and under specified conditions, in return for specified periodic rental or lease payments. Written or implied contract by which an owner of a specific asset such as a parcel of land, building, equipment, or machinery grants a second party the right to its exclusive possession and use for a specific period and under specified conditions, in return for specified periodic rental or lease payments.

Answer»

WRITTEN or implied CONTRACT by which an owner of a specific ASSET such as a parcel of land, building, EQUIPMENT, or machinery grants a second party the right to its EXCLUSIVE possession and use for a specific period and under specified conditions, in return for specified periodic rental or lease payments.

Written or implied contract by which an owner of a specific asset such as a parcel of land, building, equipment, or machinery grants a second party the right to its exclusive possession and use for a specific period and under specified conditions, in return for specified periodic rental or lease payments.

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