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English definition of “lessor”


noun [C]     /lesˈɔːr/ US   /ˈlesɔr/ LAW, PROPERTY
a person or organization that allows another person or organization to use something they own in return for regular payments : An asset may be repossessed by the lessor in the event of a default on the lease payments .
(Definition of lessor noun from the Cambridge Business English Dictionary © Cambridge University Press)
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