Leasing Credit Criteria Are Very Similar to the Criteria Used

question 18

True/False

Leasing credit criteria are very similar to the criteria used by commercial banks for equipment loans.

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Definitions:

De Jure

According to rightful entitlement or claim; by right of law, often distinguishing legal authority or legitimacy from de facto (or actual) power or control.

De Facto

A term used to describe practices that exist in reality, even though they are not officially recognized by laws.

Promissory Notes

Written, legally binding agreements in which one party promises to pay another a specified sum of money at a future date or on demand.

Debentures

A type of long-term debt instrument used by companies and governments to borrow money, not secured by physical assets.