It possibly could at least theoretically, but only if it were specifically stated that way in the lease and the person accepting the faulty equipment knew that he was getting faulty equipment to begin with. In other words, he was satisfied that the money he is to pay on the lease is worth the risk that the equipment might never be fixed. He simply took a calculated risk and lost. A lease is a contract in which both sides make promises supported by consideration, i.e. the giving by each to each of something of value. One gives money in return for a piece of equipment. When one side does not live up to his bargain the other party may sue for damages, cancellation of the contract or specific performance of the contract. On the other hand, if there is no such specific clause and if it is contemplated that the equipment will work, then it should not be non-cancellable. This is because every contract has an implied promise that each side will complete his part of the bargain in good faith. This means that it is expected that the equipment will be in working order when first delivered. If the equipment never worked, my opinion is that the lessor breached his implied warranty and the lease should be cancelled. If the equipment breaks down the next day though, it might be non-cancellable with the lessee's responsibility to fix it. But note that in this situation the equipment did work at one time. In any event is sounds like there is some litigation in store for these two.
I want to open a barber shop. Where can I find commercial equipment to lease?I want to open a barber shop. Where can I find commercial equipment to lease?I want to open a barber shop. Where can I find commercial equipment to lease?
There are many ways one can lease business equipment. One can lease business equipment by visiting popular on the web sources such as Small Business Administration.
If you are interested in obtaining more information about equipment for lease, I would highly sugguest Direct Capital. Please visit their website at: www.directcapital.com/Equipment-Lease.
The commercial equipment lease is non-cancelable. However, you might request early repayment from the lease or upgrade to some more sophisticated equipment.
The lessee can return the equipment at the end of the lease period if it is no longer needed
The equipment required to run a small business will depend on which type of business you are running. Here are some examples of where you can lease equipment: www.elease.com/ or www.leasechoice.com/
If you are leasing equipment and would like to turn it back into the lessee you can write them a letter requesting to terminate the lease. If this is a large piece of equipment the lessee will usually pick the equipment up. There may be a charge if you are terminating your lease before the end date of the contract.
If you go http://www.ckitchen.com/resources/kitchen-equipment-lease.html you can get kitchen equipment for lease. They ship the equipment free to anywhere in the United States so it's a pretty sweet website.
A lease in which the lessor promises to maintain and insure the equipment leased. It is also known as a rental lease. It's commonly used in leases of equipment and commercial real estate.
If the equipment was attached in such a manner that it could not be removed, you would depreciate it over the term of the lease or shorter.
Many companies are currently leasing business equipment rather than purchasing. Some sites that offer the option to lease equipment are Lease Experts and Tiger Leasing.
This is unique technology upgrade option. Throughout the lease term if you want to move to new equipment we'll pre-pay that old commitment, sell that old equipment for any credit and write a brand new lease on the new equipment.
Yes, as the Lessee, you're accountable. Who owns the leased equipment are the Lessor throughout the lease term, consider the Lessee (you) has having the equipment throughout the word from the lease the lease contract passes all obligations of apparatus repair and maintenance for you.
An equipment lease is an agreement that allows for a business or individual to rent equipment needed for a specific purpose. The lease usually has a start date, a payment date, the amount of the payment, and a description of what is being leased. There might also be a date to return an item and a clause pertaining to damages.
In the end of the lease, you can purchase end up possessing the lease or perform a fair market price lease when in the finish of the term, you buy the equipment for the need for in those days.
The procedure should be listed in your contract.
Yes it is indeed possible to rent out IT office equipment. For prices and supply lists, check out http://www.equipment-leasing.org/lease-office-equipment.html
Business equipment is a depreciable asset and as such it loses value over time. Just like a brand new automobile loses value the moment you drive it off the lot, machinery and office equipment is worth less the minute it leaves the store or showroom. The lease of equipment solves two problems. Because you do not own the equipment and are essentially just borrowing it for a period of time, you do not have to concern yourself with its value shrinking over time. Once your lease is up, you simply return the equipment and do not have to concern yourself with its value. Second, when you lease equipment, you are never stuck with old, outdated technology. It is easy to upgradeto new equipment each time your lease expires.
There are many companies that offer equipment for lease for small businesses, including IT equipment. A couple of these companies are: www.thealtagroup.com and www.elease.com/.
Most computer outlets have a lease option for their products. There are also computer and office supply vendors that lease a variety of equipment to consumers and businesses.
"For a high-technology item like computer equipment is the lease option preferable from the very outset Why or why not?"
As the equipment lease arrangement is not a loan, there's no interest rate. You're paying rental for the use of the equipment over a pre-determined period. You aren't repaying a loan.
The most common example would be a lease of equipment. Since the equipment is treated like a rental, the asset and the corresponding liability are not shown on the balance sheet. Lease payments are expensed as paid and the lease obligation would be disclosed in a note to the financial statement.
it all depends on what kind of equipment you are looking for..what kind of business do you have and type of equipment do you need? this is too broad of a question..
An operational lease is a type of lease in which the contract period is less than the actual life span of the leased equipment, and the lessor pays all serving and maintenance cost. There is no transfer of ownership.