What is a lease?

A lease is a contract arrangement calling for the user (lessee) to pay the owner (lessor) for use of an asset, in this instance, a copier or label press. Broadly put, a lease agreement is a contract between two parties, the lessor and the lessee. The lessor is the legal owner of the asset; the lessee obtains the right to use the asset in return for regular rental payments.

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Category: Leasing

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