Theoretical and Practical Considerations on the Execution of the Leasing Contract in Romania

• Author: Gheorghe Dinu, Raluca Antoanetta Tomescu
• Pages: 448-454

European Integration - Realities and Perspectives. Proceedings 2015

448

Theoretical and Practical Considerations

on the Execution of the Leasing Contract in Romania

Gheorghe Dinu1, Raluca Antoanetta Tomescu2

Abstract: Leasing contract: the present study was made with the scope to underline the ambiguity and the

controversies between the national laws and the international norms which govern this type of contract, which

is so widely used in  

                   

participants capitalize on their resources in a benefiting way, so no one loses and everybody wins. These

benefits can become a reality only by obeying strict and clear norms, which leave no room for interpretation,

because any personal interpretation may radically change its legal form, converting it to something totally

different from a legal po int of view. The main pu rpose is not to solve a previously solved equation, but to

compare the national and international norms so as to raise necessary questions where they should be raised.

Keywords: residual value; instalment; financial leasing; operational leasing

Based on the translation of the word leasing, excluding the strict morphological origin from English

language, the verb to lease- giving towards usage, defines and benefits of a determined legal feature,

to grant the right of the precarious detention ( the use of something not owned) of an asset for a

determined period of time, and at the end of the term having the possibility of transferring the property

right, without confusing with the verb to rent- to lease, which consists of transferring the right of

usage on a strictly determined period of time, at the end of which the owner will retrieve the asset. We

make this statement in order to fundament the following theory on this principle.

Leasing is a way to finance individual or legal entities consumers, that wish to acquire movable or

immovable assets, on a long time use, but which do not have financial possibilities or do not consider

the investment stringently required. This way of financing comes to meet those who cannot or will not

access bank loans by encumbrance of movable or immovable assets through the establishment of

mortgages or liens. It has proven to be one of the most efficient means of financing productive

investments, offering additional security to those who do not dispose of sufficient capital.

1 Associate Professor, PhD, Spiru Haret University, Romania, Address: 13 Ion Ghica Str., Bucharest, Romania, Tel.: +4 021

314 0075, E-mail: avocatdinu@avocatdinu.ro.

2 

+4021 330 9032, Romania, Corresponding author: ratomescu@gmail.com.