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Among the contracts regulated by the Civil Code, the agricultural lease contract suffers from a profound lack of popularity, on the one hand, and very few positive associations in the Romanian mentality, on the other. Beyond the empirical reality, there is no doubt that this image is based on the very legislative construction of the agricultural tenancy contract. Precisely in this regard, the present paper aims at outlining the specifics of the agricultural lease contract from the perspective of the tenant, in terms of rights, together with the risks and legal liability related to the contract. The problematization ends with some remarks related to certain elements of tenant protection within the French system.

The Fifth Circuit's recent decision in In re Royal St. Bistro, LLC has awakened an unsettled issue in the Bankruptcy Code that has divided the bankruptcy community for over two decades. The question examined by the Fifth Circuit was whether a non-debtor lessee with a right to continued possession through section 365(h) of the Bankruptcy Code loses this right if the debtor-lessor can sell its property \"free and clear\" under section 363(f). While early decisions held that section 365(h) always protects lessees against debtors' free and clear sales, some subsequent decisions created a circuit split by ruling that section 365(h) is inapplicable to section 363(f) sales. This Note discusses the relevant statutes, case law, and scholarship addressing the circuit split. Ultimately, this Note proposes that the cases ruling on this issue can be further categorized into a third middle-ground category. Specifically, this Note concludes that section 365(h) presumptively applies when a leasehold interest is present in a bankruptcy case, but a section 363(f) sale can nevertheless strip the leasehold. In such a case, the lessee can request adequate protection of its interest, which may come in the form of continued possession. This Note argues that a proposed middle-ground approach is supported by rules of statutory construction, balances the rights of both parties, alleviates constitutional concerns, and aligns with the spirit of the Bankruptcy Code.

Among the functions included in the statutory definition is activity \"undertaken by a lessee which is permitted under the terms of its lease of real property designated as an aviation area on an airport layout plan... and which real property is used for the administration, operation, business offices and activities related specifically thereto in connection with the conduct of an aircraft full service fixed base operation.\" [...]the court developed the so-called governmental-governmental test. While the trial court looked beyond the plain language of the statutes and found that the properties did not satisfy the governmentalgovernmental test, the court held that that ruling-and Henriquez's arguments in support of it-directly contravenes the plain language of the statute that expressly and mandatorily deems FBOs to serve a governmental purpose. Because courts lack the power to construe an unambiguous statute in a way that would extend, modify, or limit its express terms or its reasonable and obvious implications, the trial court's ruling could not stand.

This study examines the impact of leasing on lessee’s income, family expenditure and default rate in Jaffna District which was badly affected by the civil war from 1983 to 2009. This war has significantly affected the socioeconomic status of the people living in the area. Since the end of the war, the presence of the financial institutions has been increased significantly in the district. There are 39 financial institutions operating in Jaffna district and all of them have the function of leasing as their major operation. In general, service sector contributes 65% of the economy in Jaffna district. Transport service is also playing an important role in the economy of the district. Domestic tourism slowly emerges as a significant economic activity in this district. For this study, 331 leasing clients were randomly selected to collect data using pre tested questionnaire. The study has found that 72.8% of leasing facilities has been offered to transport sector and out of the leased facilities 39.9% were seized. Multiple regression models for lessee’s income and family expenditure and probit model for default rate of leasing were developed to study effect of leasing on lessee’s income, family expenditure and default rate. The results show that leasing has positive impact on income and family expenditure. On average, family expenditure increased by leasing is greater than the income increased by leasing because most of the lessees are economically marginalized. Therefore, there is higher possibility to get default but increase in leasing amount decrease the default rate. Leasing had greater positive income effect on self-employed clients using leasing in their own business. It was found that the leasing companies are charging very high interest rate and penalty on delayed installments. Leasing companies need to assess the client’s potentials and repayment capacity before offering leasing facility. Leasing companies should provide more grace period when the clients are in trouble. It is recommended to offer more leasing facilities to other sectors such as fisheries, agriculture and industries.

The leasing of various types of equipment plays a significant role in reducing resource consumption, reducing the need for frequent replacements, and lessening the environmental impact of equipment manufacturing and disposal. This paper examines a maintenance policy for equipment that is leased multiple times throughout its lifespan. If the equipment fails to perform as expected within the basic and extended warranty durations, the lessor makes minimal repairs at its own expense. Once the warranty period has elapsed, the lessor is still responsible for carrying out any necessary repairs, but the lessee is required to pay for them. The warranty periods are not uniform. To reduce the frequency of breakdowns, the lessor carries out preventive maintenance (PM) between successive lease periods, with the aim of reducing the age of the equipment to some extent. The costs associated with PM depend on the set of actions to be performed and their associated efficiency in terms of age reduction. A mathematical model is proposed to simultaneously find the optimal efficiency levels of PM to be carried out between successive lease periods and the optimal extended warranty periods to be offered to lessees in order to maximize the lessor’s expected total profit throughout the equipment’s lifecycle. To demonstrate the use of the developed model, a numerical example and a sensitivity study are discussed. Our model demonstrates its ability to provide valuable insights and facilitate decision-making in the establishment of leasing contracts.

Leasing has proven to be a business model that is perfectly suited to the circular economy. It significantly contributes to sustainable development by enabling the reuse of machinery and equipment after each lease period and by including preventive maintenance and overhauls within and between lease terms. This helps to extend the life cycle of equipment, promote value recovery, and reduce waste. This paper examines an imperfect preventive maintenance (PM) strategy applied to equipment rented under the terms of “free leasing”. In free leasing, the lessor makes the equipment available to the customer for a specified period of time without charging rent. In return, the customer is required to purchase the equipment’s consumables exclusively from the lessor. The lessor is also responsible for the maintenance of the equipment at the customer’s premises. The greater the quantity of consumables used by the customer, the more the equipment will deteriorate. Consequently, the lessor must be able to determine the most effective approach to preventive maintenance, ensuring that it aligns with the customer’s planned usage rate while maximizing profit. This work proposes a PM strategy to be adopted by the lessor during the free lease period. This strategy involves the performance of imperfect PM actions just before the start of the lease period and then periodically. Different packages of preventive actions can be applied each time, with each package having a different cost depending on the level of effectiveness in terms of rejuvenating the equipment. Minimal repairs are performed in the event of equipment failure. The decision variables are the PM period to be adopted and the maintenance efficiency level to be chosen for each preventive intervention. The objective is to determine, for a given customer with an estimated consumption rate profile of consumables, the optimal values of these decision variables so that the lessor maximizes their profit. A mathematical model is developed to express the lessor’s average profit over each lease period. A solution procedure is developed for small instances of the problem, and an Artificial Bee Colony algorithm is implemented for larger instances. A numerical example and a sensitivity analysis are presented.