lease NOUN a contract by which one party conveys land, property, services, etc. to another for a specified time, in return for payment.
VERB let or rent on lease.
a new lease of life — Cf. ↑a new lease of life
DERIVATIVES leasable adjective.
ORIGIN from Old French lesser, laissier 'let, leave' , from Latin laxus 'loose, lax' .

English terms dictionary. 2015.

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