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Bart developed a fear of flying when he was piloting a small plane through some severe turbulence. He has been seeing a therapist, and it appears that his fear response has been successfully extinguished. The therapist used a flight simulator to help Bart practice his piloting skills in a safe setting. However, the first time Bart stepped back into a real plane, his fear returned. This example illustrates the phenomenon known as
Lessee
A person or entity who leases or rents property from a lessor, obtaining the rights to use and occupy the property according to the terms of the lease agreement.
Title Does Not Pass
A legal principle indicating that the ownership of a property or asset has not been transferred from the seller to the buyer, often due to certain conditions not being met.
CISG
Stands for the United Nations Convention on Contracts for the International Sale of Goods, which provides a uniform framework for international commerce.
Risk Of Loss
The potential that an investment's value may decrease, or that the property may be destroyed, damaged, or lost, impacting the holder's financial position.
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