Which of the following is correct with respect to "finance leases"?
A)A finance lease generally involves four parties.
B)Finance leases are governed by the Truth in Lending Act rather than the UCC.
C)The finance lessor functions merely as a source of credit.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

A finance lease typically involves three parties: the lessor, the lessee, and the supplier. It is governed by the Uniform Commercial Code (UCC), not the Truth in Lending Act. The finance lessor primarily acts as a source of credit, providing the funds for the lessee to use the asset.

Which of the Following Is Correct with Respect to "Finance