Leasing vs Buying

Academy of Economic Studies
Faculty of Business Administration in Foreign Languages
English Section
Series B
Year 4

LEASING
LEASING VS BUYING
CASE STUDY: CAR LEASING



Coordinating Professor:
Mandruleanu Anca
Luchita Natalia
Gr.147
2008

Table of Contents:

1. Introduction……………………………………. 3

2. Property leasing……………………………….. 8

3. Car leasing………………………………………..15

4. References……………………………………….. 26

1. Introduction

Lease

A lease is a legal document, but can be a verbal arrangement, which confers a right on one person (called a tenant or lessee) to possess property belonging to another person (called a landlord or lessor) to the exclusion of the owner landlord. The relationship between the tenant and the landlord is called a tenancy, and can be for a fixed or an indefinite period of time (called the term of the lease). The consideration for the lease is called rent or the rental.
Under normal circumstances, owners of property are at liberty to do what they want with their property, including dealing with it or handing over possession of the property to a tenant for a limited period of time. However, if an owner has surrendered possession to another (ie the tenant) then any interference with the quiet enjoyment of the property by the tenant in lawful possession is itself unlawful.
Similar principles apply to real property as well as to personal property, though the terminology would be different. Similar principles apply to sub-leasing, that is the leasing by a tenant in possession to a sub-tenant. The right to sub-lease can be expressly prohibited by the main lease.
Formality of a lease
The formal requirements for a lease are determined by the law and custom of the jurisdiction in which real property is located. In the case of personal property, it is determined by the law and custom of the jurisdiction in which the rental agreement is made.

Term of a lease

The term of the lease may be fixed, periodic or of indefinite... [continues]

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