Definition: A lie; the act of lying, falsehood.

Okay class, settle down, let’s take a look! That definition you read – "a lie, the act of lying, falsehood" - is absolutely not what “leasing” means. That's a tricky word, and it can be confusing if we get tripped up by similar-sounding words. Let's clear things up with a little rhyme, to make it bright: “Leasing” isn’t lying, don’t you see? It's renting something – for you and me! Think of it like this: Imagine you want a bike, but you don’t want to buy one. Leasing is an agreement where you pay someone a little bit each month to use their item – whether it's a car, equipment, or even furniture - for a set amount of time. You don't own it at the end of the lease; you simply return it when the period is through. It’s like borrowing with a payment plan! Does that make more sense? We'll delve deeper into different types of leases later, but for now, remember: leasing = renting for a set time. Do you have any questions about this? Don't be shy – let's discuss!