Search Results for: commercial lease

commercial unit

commercial unit. A unit of goods that by commercial usage is a single whole for purposes of lease and whose division materially impairs its character or value in the relevant market or in use. UCC § 2-105(6). • Under the UCC, “a commercial unit may be a single article (as a machine) or a set

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ground lease

A long-term (usu. 99-year) lease of land only. • Such a lease typically involves commercial property, and any improvements built by the lessee usu. revert to the lessor. — Also termed ground-rent lease; land lease. [Cases: Estates in Property 13. C.J.S. Estates §§ 159–192.]

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consumer lease

consumer lease 消费租赁 消费品的租赁,也可适用于住宅租赁,相对于商业租赁〔commercial lease〕。美国《统一商法典》〔U.C.C.〕将其定义为从事正规租赁及出售业务的出租人与承租人(非组织),主要为个人或家庭使用目的建立的租赁关系。美国《联邦消费租赁法》〔Federal Consumer Leasing Act〕对消费租赁合同的条款披露作了规定,该法现已并入《联邦真实贷款法》〔Federal Truth in Lending Act〕。

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finance lease

A fixed-term lease used by a business to finance capital equipment. • The lessor’s service is usu. limited to financing the asset, and the lessee pays maintenance costs and taxes and has the option of purchasing the asset at lease-end for a nominal price. Finance leases strongly resemble security agreements and are written almost exclusively

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uniform computer information transactions act

Uniform Computer Information Transactions Act. A model law that regulates software licensing and computer-information transactions. • The Act draws on contract law and the Uniform Commercial Code to create a regulatory scheme for licensing, rather than sales or lease, transactions. Among other things, UCITA applies to contracts for the licensing or purchase of software, contracts

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mobile goods

Goods that are normally used in more than one jurisdiction (such as shipping containers and road-construction machinery) and that are held by the debtor as equipment or leased by the debtor to others. • Under previous drafts of the Uniform Commercial Code, the procedure for perfecting a security interest in mobile goods was generally defined

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recapture clause

recapture clause. 1. A contract provision that limits prices or allows for the recovery of goods if market conditions greatly differ from what the contract anticipated. 2. A commercial-lease provision that grants the landlord both a percentage of the tenant’s profits above a fixed amount of rent and the right to terminate the lease —

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