Friday, April 23, 2010


i came upon this article on one form of contract that many of us are involved in at one point in the life, "the contract of lease" many things can be leased including cars and houses. A lease is a contract between two parties giving rise to reciprocal obligations, the lessor (landlord) on the one hand, having to avail to the lessee (tenant) the property or thing to be leased for a particular period of time in exchange for rent or payment instances. a lease is different from sale as in the case of a lease ownership is not permanently transfered but temporary.

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