Miles Acquires a Power Generator Under a Two- Year Lease

question 2

Multiple Choice

Miles acquires a power generator under a two- year lease with the manufacturer. After four months, Miles realises he no longer needs the generator. He delivers the generator back to the supplier hoping that his lease payments would 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) No, since he is no longer receiving benefits under the lease.
• B) Yes, because this is an operations lease.
• C) No, since he no longer requires the use of the generator.
• D) No, because the lessor has the chattel in his possession.
• E) Yes, since the contract made no provision for early termination.

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Definitions:

Free Association

A therapeutic technique in psychoanalysis where a patient speaks freely to reveal unconscious thoughts and feelings.

Resistance

In psychology, the opposition or reluctance to discuss, remember, or acknowledge certain thoughts, feelings, or experiences during therapy.

Insight

The ability to understand the true nature of a situation, often leading to a sudden realization or solution.

Cognitive-behavioral

Pertaining to a therapy approach that addresses dysfunctional emotions, behaviors, and cognitions through a goal-oriented, systematic process.