(125.) A lessor
could also learn of an accident at the end of the lease term if the car itself is damaged.
Now, the lessor
can (and should) have its own business auto policy to properly protect its interests; but, there are some endorsements that can be attached to the lessee's BAP and the lessor
's BAP that address the legitimate concerns of the lessor
It allows the lessor
to claim ownership and the lessee to claim the rental payments as tax-deductible operating expenses.
* You pay for excessive wear and tear as defined by the lessor
. Don't think a ding or a scratch is minor.
A business' best selection for a lessor
should be one who can serve as a total systems solutions provider.
Essentially, a lease is a financial and legal transaction whereby a fixed asset is owned by one party (the lessor
) and used by another party (the lessee), who pays a fee for its use (rent).
The lender is known as lessor
, whereas the borrower is known as lessee.
The provider's closer association with the lessor
hospital may hinder its ability to develop working relationships with other referral sources in the community, especially those which compete directly with the lessor
Leasing is shown to have lower expected bankruptcy costs to the lessor
than borrowing has to the lender, resulting in lower financing costs for the lessee than the borrower, ceteris paribus.
A lease is a form of agreement wherein, as defined by International Accounting Standard 17, a lessor
conveys to the lessee, in return for a payment or series of payments, the right to use an asset for an agreed period of time.
Finance leases are defined in the Law as "a relationship between lessor
and lessee, whereby the lessor
shall own the leased asset for the purpose of leasing it.
According to Rule 70, Section 2 of the Rules of Court, the lessor
can only proceed with a summary action for ejectment upon making a sufficient demand from the lessee: