| Well, the issue was that the obligations of the lessee would not be overlooked because the lessee and the lessor were the same person. |
| Where there is an assignment by a lessor to a lessee the interest which the lessee takes is the interest which the lessor himself had. |
| Lease liabilities are effectively secured as the rights to the leased asset revert to the lessor in the event of default. |
| During these periods buildings often stay untenanted for a longer period as a wider choice becomes available to a lessor. |
| The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation. |
| The trustee sought a renewal for the children and the lessor refused to grant the lease to the children. |
