Examlex
The Endangered Species Act (ESA)is administered by both the Department of Commerce and the Department of the Interior.
Financial Leases
Financial leases are long-term leases in which the lessee is responsible for maintenance, taxes, and insurance, essentially treating the leased asset as if it were owned.
Cancellable
Refers to an agreement or financial instrument that can be terminated or voided by either party under predefined conditions.
Penalty
A punishment imposed for breaking a law, rule, or contract.
Tax-Oriented Leases
Leasing arrangements designed to pass tax advantages from the lessor, who owns the asset, to the lessee, who uses the asset.
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