ownership rights: GK, General Studies and Current Affairs

What is the meaning of Capital Lease?

A Capital Lease means a lease agreement or a contract in which the ownership rights of the asset are transferred to the lessee after the completion of the lease period. These are usually done for long-term and cannot be cancelled. The lessee has the option of bargaining at the time of the sale of the ..

What is Absolute Assignment?

An absolute assignment refers to complete transfer of the ownership (rights, benefits, liabilities etc.) of the policy to another party with no mention of terms and conditions.  E.g. if A the policy owner wants to gift or give his/her life insurance policy to another person B, then A is doing Absolute Assignment. Thus, A is ..

What is Assignor?

The Assignor is basically a person, a party or an entity that transfers the rights of a contract which they hold to another entity known as the assignee. The assignor thus transfers complete ownership rights and all the benefits pertaining to the contract to the assignee.