Leasing as a Form of Business Financing
Lease is defined as an agreement where by the lessor conveys to the lessee in return for rent the right to use an asset for an agreed period of time.
Most writers believe that equipment leasing started in 1977, the year that bell telephone first rented in the united state. It is however clear from history and decided cases in the British House of Lords that there were some form of leasing in the 1930’s and 1804’s in Great Britain. There was however, no organized leasing business in Great Britain until 1960 when financial leasing was founded in the city of London as a new method of business finance. [Read more…]