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Leasing Contract And Contractual Interdependence

Author

Listed:
  • Narcis GODEANU

    (Spiru Haret University, Bucharest, Romania)

Abstract
Leasing (credit-rent) is a complex, original and stand-alone legal operation as a financing technique for commercial companies. This transaction, as a whole, typically includes two distinct transactions: the leasing company enters into a sale-purchase agreement with a producer (supplier) through which it purchases the assets to be leased out with a unilateral sales promise, then the leasing company (the borrower) concludes a lease with the user (the borrower) to lease the asset for a certain period of time, with the option of ultimately buying it for a residual price. In court practice, the question arises whether the lease should be cancelled or terminated for lack of cause if the sale / purchase contract concluded between the supplier and the leasing company was resolved for non-compliance with the user’s requirements or for hidden vice that does not work for the intended use. The solution adopted in the French case-law was that the two types of contracts are their mutual cause (one with respect to each other) being in the face of contractual interdependence.

Suggested Citation

  • Narcis GODEANU, 2017. "Leasing Contract And Contractual Interdependence," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 48(4), pages 51-57, December.
    • Handle: RePEc:ath:journl:v:48:y:2017:i:4:p:51-57
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    More about this item

    Keywords

    Contract Case; leasing contract; Contractual interdependence;
    All these keywords.

    JEL classification:

    • K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
    • K19 - Law and Economics - - Basic Areas of Law - - - Other
    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General

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