A lessor is a party who acquires a right to the possession and use of goods under a lease. a) trueb) false

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Business

Ean Stark

21 July, 15:43

A lessor is a party who acquires a right to the possession and use of goods under a lease. a) trueb) false

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Wilkerson · Answer 1

Answer: FALSE

Explanation: In simple words, a lessor refers to an individual who, under a contract of lease, lets another individual to use his or her assets in return of any kind of rent or one time payment.

The individual who pays the rent in return of right to use the asset of the lessor is called a lessee. Lessor is actually the owner of the asset.

Hence the given statement is false.