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What is Contracts Overview: Sale vs. Lease about?

The document compares sales and lease contracts. Both are onerous bilateral contracts with reciprocal obligations. In a sales contract, the seller transfers ownership of an asset in exchange for a price, while in a lease contract one party gives the use of an asset in exchange for periodic payments over a specified period. Both require the voluntary agreement of the parties, the determination of the thing or asset that is the object of the contract, and the fulfillment of the obligations.

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