Maryland Code, COMMERCIAL LAW 14-2010
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Terms Used In Maryland Code, COMMERCIAL LAW 14-2010
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Any penalties or charges set forth in the lease or claimed by the lessor in the event of early termination or default must comply with the standards set forth in the Consumer Leasing Act.