The lease of goods is the transfer of ownership to tangible personal property in exchange for money, other goods, or the performance of services.

Question

Quizplus · Accepted Answer

The lease of goods is not the transfer of ownership, but rather the transfer of possession and use for a temporary period of time in exchange for payment or other consideration. The ownership of the goods remains with the lessor.

The Lease of Goods Is the Transfer of Ownership to Tangible