ABSTRACT
Mercantile Business Finance Ltd v Mawson (Inspector of Taxes) [2004] UKHL 51; [2005] 1 All ER
deriving from the lessor’s title or its acts or omissions. The lessee will be exclusively responsible for the operation, insurance, crewing and maintenance of the yacht and at the end of the lease term the yacht may be sold to a third party and the net sale price paid to the lessee as rebate of hire.
