The tenant cannot sell, sell or incriminate the goods to third parties unless all payments are paid. All payments, including staggered payment and other taxes payable to a public authority with respect to goods, are paid regularly by the tenant. In case of non-compliance, the contract may be terminated by the owner at his sole discretion. How to terminate the lease To create a lease, talk to an IndiaFilings business consultant. Leasing is subject to the Hire Purchase Act of 1972. Leasing contracts are of two types. In the first type, the goods are purchased by the financier by the merchant and the financier enters into a lease-sale agreement with the customer whereby the customer becomes the owner after payment of all payments for the goods. In the second type of rental, the client acquires the goods and executes a lease-sale agreement with the financier, in which he remains in possession of property, subject to payments from the customer to the financier. The financier has the right to seize the goods if the customer does not meet the financial repayment condition. 30. If, at the time of the decision of this agreement, the tenant, by date or other period, does not deliver the machines and equipment mentioned to the company without any dispute, the company is entitled to file a complaint or initiate another procedure to recover the property of the business, and the tenant is obliged to pay all costs , expenses and expenses. which, subject to a decision of the Court of Justice, were created by the company on that behalf.
8. The tenant undertakes to compensate and compensate the business for any loss to the business as a result of damage to these machines and facilities for any reason. AND CONSIDÉRANT that the tenant asked the company to rent the machines and equipment mentioned to allow the tenant to manufacture … with an option for the tenant to buy the same thing. A company`s return on investment (ROCE) and return on investment (ROA) can be flattered by a lease-sale agreement. 26. With respect to the exercise of the option and the payment of the price of the machinery and equipment and other funds covered in point 25, the sale of these machines and equipment to the tenant is considered to be completed, as the option comes into effect on the effective date of the option. Until then, however, the company will remain the owner. However, if the tenant does not pay the amount owed and to pay to the company, as it is payable on the date the option takes effect, that contract is terminated and the tenant will immediately return the machinery and equipment to the company in good working condition. 3. The rental-purchase price of the machines and equipment mentioned on Rs.
… excluding the amount of the deposit covered in the following clause and the entry price set for the aid … accepted by both parties. The basic principle that facilitates is that the rate that is determined becomes the rent (the rent) until the full payments are paid under the contract. Once, the time between the tenant (buyer) can pay a nominal amount to become the owner of the merchandise. The tenancy agreement is a contract by which the goods are leased and the tenant has the opportunity to purchase the goods in accordance with the terms of the agreement. Leases are often used by the aviation and automotive industry for aircraft and automobile rentals. It is the terms of the agreement that determine the real nature of the agreement. In addition, unless the law is prohibited, the court may go behind the document to determine the true nature of the documents.
This article was written by Rutuparna Sahu of the KIIT School of Law, Odisha. This article is an analysis of the lease-sale. 6. If the tenant does not pay a monthly rental fee on the due date, the tenant is required to pay interest of ……. to pay.