Legal Question in Business Law in California

Requesting payoff of equipment lease

I would like to write a letter to request the termination of an equipment lease my company has going. We would like to offer the leasing company an amount to payoff the lease and acquire the equipment. Is there a free example of a letter that you could suggest that I use. I'm not sure how to word the letter.

Thanks


Asked on 4/21/06, 9:39 pm

3 Answers from Attorneys
Daniel Harrison Berger Harrison, APC

Re: Requesting payoff of equipment lease

You should probably call them up to get a payoff before you send a termination letter.

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Answered on 4/24/06, 2:13 pm
Richard Wagner Wagner & Zielinski, A Professional Law Corp.

Re: Requesting payoff of equipment lease

A good place to start is to look at the contract that describes the conditions and the manner you (presumably the lessee) can terminate the lease.

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Answered on 4/21/06, 9:45 pm
Robert F. Cohen Law Office of Robert F. Cohen

Re: Requesting payoff of equipment lease

In addition to what Mr. Wagner suggests, it probably wouldn't hurt to chat with the lessor to sound them out about the idea. Since the equipment probably has depreciated substantially, they might be willing to take a lump sum to get it off their hands and get cash up front.

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Answered on 4/21/06, 11:42 pm


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