Asked by Mo Cain Jumaah on Jul 20, 2024
Verified
A lease is a written agreement between a bank and a borrower.
Lease
A written agreement between the landlord and a tenant that details the amount of rent, the length of time the apartment is to be rented, and the rules and regulations that must be followed by the tenant and the landlord.
Borrower
An individual or entity that takes something, especially money, on loan with the obligation to return it or repay the equivalent.
- Comprehend principles related to leasing, renting, and homeownership, including understanding lease agreements.
Verified Answer
AS
Ahmad SahyounJul 25, 2024
Final Answer :
False
Explanation :
A lease is a written agreement between a lessor (owner of an asset) and a lessee (the user of the asset) for the lessee to use the asset in exchange for periodic payments. It is not an agreement between a bank and a borrower.
Learning Objectives
- Comprehend principles related to leasing, renting, and homeownership, including understanding lease agreements.