Question

Alyssa wants to purchase two large tents for use at family social events. She doesn't have the cash necessary to buy the tents. She convinces the owner of Ajax Supplies, an outdoor-equipment store, to lease the tents to her. They have created a:
a. consumer lease.
b. finance lease.
c. utility lease.
d. trade usage lease

Answer 1

Answer:

a. consumer lease.

Explanation:

Based on the scenario being described within the question it can be said that they have created a consumer lease. This term refers to a contract in which one individual is leasing a certain good for their own personal use. This contract has a duration of 1 year and once it is over they have to return the good or can decide to purchase the good to keep forever if they choose to do so. Which is what Alyssa has done with the tents.