ABSTRACT
A contract of lease is an agreement for the lessor to deliver his property to the lessee for the latter’s use, and the lessee to pay rent for this use to the lessor and return the leased property to the lessor when the lease relationship expires. A contract of lease is a bilateral, nongratuitous, and promissory contract. According to the contract, the right which the lessee obtains to possess and use the leased property is under the protection of law. Neither third persons nor the lessor of the property may violate it. Even where the ownership of the leased property has changed hands, the new owner must respect the lawful rights of the lessee within the effective period of the lease. The lease relation is a kind of embodiment of commodity relationships, and it is a kind of property circulation relationship that came into independent existence after commodity relationships had gradually developed.
