Examlex
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Executory Contract
A contract under which both parties to the agreement have unperformed obligations that remain to be fulfilled.
Lease
A contractual arrangement in which a lessee agrees to pay the lessor for the use of an asset for a specified period of time.
Legal
Pertaining to the law or the legal system, encompassing various legal matters, processes, and institutions.
Direct Financing Lease
A leasing arrangement where the lessor purchases an asset and leases it to the lessee, effectively acting as a financier by not transferring ownership.
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