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The UCC applies to contracts for the purchase and sale of goods, and to contracts granting a security interest in property other than land. The UCC is a body of law passed by the U.S. state legislatures and is generally uniform among the states.
The narrower term 'tenancy' describes a lease in which the tangible property is land (including at any vertical section such as airspace, storey of building or mine).A premium is an amount paid by the tenant for the lease to be granted or to secure the former tenant's lease, often in order to secure a low rent, in long leases termed a ground rent.
A Lease-Purchase Contract, also known as a lease purchase agreement or rent-to-own agreement, allows consumers to obtain durable goods [1] or rent-to-own real estate [2] without entering into a standard credit contract. [1] It is a shortened name for a lease with option to purchase contract.
The vehicle owner purchased the vehicle from General Vehicle Company (GVC, a subsidiary of the General Electric Company) without a battery and the electricity was purchased from Hartford Electric through an exchangeable battery. The owner paid a variable per-mile charge and a monthly service fee to cover the maintenance and storage of the truck.
A set of heads of agreement, heads of terms, or letter of intent is a non-binding document outlining the main issues relevant to a tentative sale, partnership, or other agreement. [ 1 ] A heads of agreement document will only be enforceable when it is adopted into a parent contract and is subsequently agreed upon, unless otherwise stated.
An amphibious vehicle (or simply amphibian) is a vehicle that works both on land and on or under water. Amphibious vehicles include amphibious bicycles , ATVs , cars , buses , trucks , railway vehicles , combat vehicles , and hovercraft .
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