MEANING OF LESSOR VS LESSEE-ALL YOU NEED TO KNOW
Lessor and Lessee are two parties to a lease agreement. An agreement or a contract by which the owner (lessor) of a specified asset grants permission to another party (lessee) to use the asset for a specific period of time and with defined terms and conditions in return for periodic rentals is termed a lease.
Meaning of Lease
An agreement or a contract by which the owner of a specified asset grants permission to another party to use the asset for a specific period of time and with defined terms and conditions in return for periodic rentals is termed a lease. The specified asset can be land, building, machinery, or equipment. The lessee pays rentals in the form of lease payments either at periodic intervals or a one-time payment to the lessor…………………READ MORE
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