A lease of goods can have the same financial characteristics as a secured loan to finance the acquisition of an asset.The interest in the asset held by the lessor,in the case of the lease,or the secured lender,in the case of a secured financing,secures the payments required to be made.For this reason,all leases of personal property must be registered under provincial personal property security laws regardless of whether they create a security interest.

Question

Quizplus · Accepted Answer

Not all leases of personal property must be registered under provincial personal property security laws. Registration is required only if the lease creates a security interest.

A Lease of Goods Can Have the Same Financial Characteristics