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

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

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 economically developed countries. The leasing contract is not a contract for instalments‘ payment nor a rental contract, it‘s a special type of contract, a form of financing ... (see full summary)

 
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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.

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