Definitions for "Lease Contract"
An agreement under which equipment or facilities can be obtained on a rental payment basis for a given period of time. Such an agreement provides the user facilities without making a capital outlay.
a contract that is typically entered into by a lessee (the individual who will be driving the given vehicle) and a lessor (the individual or company that actually owns the vehicle)
an agreement under which the owner of an asset conveys to the user the right to use the asset in return for a number of specified payments over an agreed period of time