Robert rented a floor sander from a hardware store to refinish his living room floor. This is a "finance lease" under the Code.

Name: Robert rented a floor sander from a hardware store to refinish his living room floor. This is a "finance lease" under the Code.
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Question

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A "finance lease" typically involves a lessor purchasing an asset and leasing it to a lessee, often with an option to purchase. Renting a floor sander for a short-term use does not meet the criteria of a finance lease.

Robert Rented a Floor Sander from a Hardware Store to Refinish