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Dictionary by pitch.dog
Commercial agreements & supporting documents · Core

Lease

Also called: rental agreement

ELI5

A contract granting use or possession of property or equipment for a period in return for payment.

Used in conversation

“Can we state who receives the right created by lease, and when it applies?”

Pitch context

You will see “Lease” in board papers, contracts, policies, risk registers and compliance reports when the discussion reaches commercial agreements & supporting documents.

Why it matters: In commercial agreements & supporting documents, a loose definition can change rights, obligations, approval, disclosure or enforceability.

Caution

Meaning, enforceability and required process vary by jurisdiction and agreement; this definition is not legal advice.

When the words have to travel

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Sources & evidence · 5

Direct term-level sources and supporting source families.