rental AEG??

[sigsour]

I'm only talking about the pure definition of "lease" as a derivative of "to lend", not the legalese version. I'm only being anal about it, but in non-English speaking countries, people often say "I want to lend your item" instead of "I want to borrow your item" but you can forgive them for not understanding the very complex nuances of the English language. However, in an English speaking country - using the same word (rent) to mean the opposite of each other is less forgivable.

In Australia - where I'm originally from (and which has a purer form of English, not being corrupted by American influences), to "lease" is to lend an item out for money. Leasing out long term, is just a "long-term lease" - there's no confusion. On houses for rent, the sign says "to let".

Anyway - this may seem off-topic, but it's actually not. I took the meaning of the opening thread to mean - "does anyone rent an AEG from someone". But then everyone here took it to mean "does anyone lease an AEG to someone". You can clearly see that by using the word "rent" to mean both "rent" and "lease" - that the opening thread's question is very ambiguous.

[sigsour]

Lease: to grant the temporary possession or use of (lands, tenements, etc.) to another, usually for compensation at a fixed rate; let: She plans to lease her apartment to a friend.

source: www.dictionary.com

It's only one of the definitions, but clearly the word is used any time an item is lent for monetary compensation which includes the broader application of long-term lease contracts.

Here's the true English meaning:

"A contract by which one party conveys land, property, services, etc. to another for a specified time, in return for payment."

Source: Oxford Dictionary askoxford.com

- so clearly the original English definition is exactly what I said, and how it's used in the UK and Australia. The alternative definitions in American dictionaries, I would contend differ, and are unnecessarily confusing/ambiguous.

[CDN_Stalker]

Man, total thread derailment in process.

[ww2warrior]

Originally Posted by CDN_Stalker

Man, total thread derailment in process.

+1 lets get back to the original subjetc

[Lawdog]

Allow me to assist.

I have seen AEG rentals everywhere from $25 for the day to $50 for the day with differing amounts for batteries etc.

If you are doing it on a commercial basis it would be pretty easy to get a deposit via a credit card slip to secure you via damages. And if your goal is to make a profit something near the higher end of the range would make sense.

Ld

[LeGROS]

We should have 3 TM and maybe few hand guns!

tm will be SR-16 and M4A1

[Ronan]

You can rent my PTW, but its gonna be pricey.

Usually for normal AEG price my guest have paid vary from $25-$60 (includes battery and a hicap or more).

A lot cheaper than Paintball.

[Azathoth]

Originally Posted by Lawdog

No.

Lease- "An agreement under which owner fives up possession and use of his property for valuable consideration and for definate term and at the end of the term owner has absolute right to retake, control and use property. When used with referse to tangible personal property, word "lease" means a contratct by whicn one owning such property grants to another the right to possess, use and enjoy it for a specifed period of time in exhange for periodic payment of a stipulated price, referred to as rent."

Black's Law Dictionary 6th ed. pg 889.

If title transfers during the pendency it is not a lease. If it is a lease to own, the lease ends when title transfers.

As an accountant you should be aware of the distinction.

Ld

You are technically correct. I quote from the FA3 handbook:

Classification Criteria
A lessee should classify a transaction as a lease it if includes a noncancellable lease term and one or more of the three criteria listed. Otherwise it is an operating lease.

1. The agreement specifies that ownership of the asset transfers to the lessee or the agreement contains a bargain purchase option.
2. The noncancellable lease term is equal to 75 percent or more of the expected economics life of the asset.
3. The present value of the minimum lease payments is equal to or greater tha 90 percent of the fair value of the asset.

In my professional opinion, in the end, the legal definition would depend on how the lawyer wrote the agreement.

[LeGROS]

Azathoth Please... we already ask!! Keep the line of this thread!