How many parties are there in an ordinary lease contract and a finance lease contract?
A) 2 parties in both an ordinary lease and a finance lease.
B) 3 parties in both an ordinary lease and a finance lease.
C) In both an ordinary lease and finance lease the number of parties depends on the transaction.
D) There are 2 parties in an ordinary lease and 3 parties in a finance lease.
E) There are 3 parties in an ordinary lease and 2 parties in a finance lease.

Question

Quizplus · Accepted Answer

In an ordinary lease, there are usually two parties: the lessor (owner of the asset) and the lessee (user of the asset). In a finance lease, there are typically three parties: the lessor (owner of the asset), the lessee (user of the asset), and the financier (who provides the funding for the asset).

How Many Parties Are There in an Ordinary Lease Contract