An agreement to transfer the right to possess and use goods for a commercial purpose for a period of time in exchange for payment is a lease.

Name: An agreement to transfer the right to possess and use goods for a commercial purpose for a period of time in exchange for payment is a lease.
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A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset for a specified period of time, which fits the description provided.

An Agreement to Transfer the Right to Possess and Use