1. Lease and Hire Purchase
LEASE: A contract by which one party conveys
land, property, services etc. to another for a
specified time usually in return for Periodic
Payment
HIRE-PURCHASE: A system by which a Buyer
pays for a thing in regular installments while
enjoying the use of it.

2. Difference between Lease and
Hire- Purchase
1. Ownership
2. Method of Financing
3. Depreciation
4. Tax Benefits
5. Salvage Value
6. Deposit
7. Rent Purchase
8. Extent of Finance
9. Maintenance
10. Reporting