LEASING CONTRACT AND CONTRACTUAL INTERDEPENDENCE

Narcis Godeanu ()
Additional contact information
Narcis Godeanu: Spiru Haret University, Bucharest, Romania

Internal Auditing and Risk Management, 2017, vol. 48, issue 4, 51-57

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.

Keywords: Contract Case; leasing contract; Contractual interdependence (search for similar items in EconPapers)
JEL-codes: K12 K19 K40 (search for similar items in EconPapers)
Date: 2017
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://aimr.univath.ro/download/1136_IARM-48-4.pdf (application/pdf)
http://aimr.univath.ro/en/article/LEASING-CONTRACT ... DEPENDENCE~1136.html (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ath:journl:v:48:y:2017:i:4:p:51-57

Access Statistics for this article

Internal Auditing and Risk Management is currently edited by Emilia Vasile

More articles in Internal Auditing and Risk Management from Athenaeum University of Bucharest Contact information at EDIRC.
Bibliographic data for series maintained by Cosmin Catalin Olteanu and Emilia Vasile ().