The Lessor's Implicit Rate Is the Rate That the Lessor

question 74

True/False

The lessor's implicit rate is the rate that the lessor would incur in a debt agreement under similar terms and circumstances.

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Definitions:

Equal Dignities Rule

A legal doctrine stating that if a contract must be in writing, then any appointed agent to sign the contract must also be designated in writing.

Click-On Agreement

A form of contract agreement obtained by clicking a button or checking a box online that indicates acceptance of the online terms and conditions.

Electronic Shopping Cart

A feature of online stores that allows users to select and accumulate items they wish to purchase virtually before proceeding to checkout.

Notary

A public officer authorized to witness the signing of documents and to administer oaths, ensuring the authenticity of the signatures.