New Click here to Enroll for SIDBI MSME Expert Class by ex-GM, SBI on Nov 24

    Register

    Question

    In the context of a lease, what is the term used for the transferee?

    A Rent Correct Answer Incorrect Answer
    B Lessor Correct Answer Incorrect Answer
    C Lessee Correct Answer Incorrect Answer
    D Premium Correct Answer Incorrect Answer

    Solution

    Explanation: Section 105: Lessor, lessee, premium and rent defined—The transferor is called the lessor, the transferee is called the lessee, the price is called the premium, and the money, share, service or other thing to be so rendered is called the rent.

    Practice Next