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Alain Poitevin
on Dec 08, 2024

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A characteristic of an operating lease is that the lessee has the right to cancel the contract before expiration.

Operating Lease

A lease agreement for the use of equipment or property for a shorter period than the asset's life expectancy, without transferring ownership rights.

Right To Cancel

A clause or provision in a transaction that allows a party to withdraw from the contract under certain conditions before it is fully executed.

  • Comprehend the difference between capital (financial) leases and operating leases.
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Bobbi WatsonDec 13, 2024
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