BUISENESS MANAGEMENT
RISK MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Insurance
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Lease
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Hazard Risk
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Investment
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Detailed explanation-1: -A lease agreement is a contract between the lessor and the lessee that grants the lessee the right to use a property that belongs to or is managed by the lessor for a predetermined period of time in exchange for recurring rental payments from the lessor. The lease does not grant the lessee any ownership rights.
Detailed explanation-2: -A lease is a legal agreement under which someone pays money to another person in exchange for the use of a building or piece of land for a specified period of time.
Detailed explanation-3: -When a leased property is sold to another owner during the lease term, the terms of the lease will prevail.
Detailed explanation-4: -A perpetual lease deed or a deed of lease for a term in perpetuity, is essentially a lease deed in which no specified time period as to when such lease deed should be terminated is mentioned. Whether an agreement/contract is in perpetuity or not, depends upon the conditions mentioned in such agreement/deed/contract.