Exam: BEC Higher

Definition: A person whose job is to wash and clean clothes and other fabrics.

Example: The launderer carefully pressed the shirts before returning them to the customers.

Definition: The act of dismissing an employee from their job, usually due to a lack of work or company changes.

Example: Due to budget cuts, the company announced a layoff of several employees.

Definition: Capable of being rented or leased to someone.

Example: The apartment is leasable for a minimum of six months.

Definition: A legal agreement that allows someone to use a property for a certain time in exchange for payment.

Example: They signed a lease for the apartment that lasts for one year.

Definition: To allow someone to use a property or item for a specific period of time in exchange for payment, usually through a formal agreement.

Example: They decided to lease a new apartment for a year.

Definition: A business deal where a person or company sells a property and then immediately rents it back from the buyer, allowing them to keep using the property while receiving cash from the sale.

Example: The company decided to enter into a leaseback agreement to free up capital for new investments.

Definition: A type of property ownership where a person has the right to use and occupy land or buildings for a specific period of time, as agreed in a lease contract.

Example: They decided to invest in a leasehold property instead of freehold.

Definition: A person who has the right to use a property for a specific period of time according to a lease agreement.

Example: As a leaseholder, she is responsible for paying rent and maintaining the property.

Definition: A person or entity that leases property or equipment to another party.

Example: The leaser signed the contract to rent the apartment for a year.

Definition: A book or record used to keep track of financial transactions, showing debits and credits for a business or organization.

Example: The accountant carefully updated the ledger to reflect all recent transactions.

Definition: A person or entity that rents or leases property from another party, known as the lessor.

Example: The lessee signed the contract to rent the apartment for a year.