Miles Acquires a Power Generator Under a Two-Year Lease with the Manufacturer.After

question 70

Multiple Choice

Miles acquires a power generator under a two-year lease with the manufacturer.After four months,Miles realizes he no longer needs the generator.He delivers the generator back to the supplier,hoping that his lease payments will stop,but to his dismay,he is informed that he will be expected to pay the remaining twenty payments.Will Miles legally be required to finish all the lease payments?

• A)Yes,he will,because this is an operations lease.
• B)No,he won't,because the lessor has the chattel in his possession.
• C)No,he won't,since he is no longer receiving benefits under the lease.
• D)Yes,he will,since the contract made no provision for early termination.
• E)No,he won't,since he no longer requires the use of the generator.

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