The Leasing of Automobiles by Consumers Has Grown Substantially in Recent

question 253

Essay

The leasing of automobiles by consumers has grown substantially in recent years, to the point where not only new vehicles are being leased, but used autos as well. Why do you think this type of leasing has become so popular? These auto leases sometimes allow the lessee to buy the car at a specified price at the end of the lease. Explain the option involved here.

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Definitions:

Under Seal

A legal formality indicating that a document's signature is genuine and that the signer intends to adhere to the terms of the document.

Logging Protesters

Individuals or groups actively opposing logging operations, usually due to environmental concerns or disputes over land usage rights.

Force Majeure Clause

A provision in a contract that relieves parties from fulfilling their obligations due to unforeseen events beyond their control, such as natural disasters, war, or acts of government.

Terminate

To bring to an end; cease or conclude a condition, agreement, or process.