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lease

The Oxford Pocket Dictionary of Current English | 2009 | Copyright

lease / lēs/ • n. a contract by which one party conveys land, property, services, etc., to another for a specified time, usually in return for a periodic payment. • v. [tr.] grant (property) on lease; let: she leased the site to a local company. ∎ take (property) on lease; rent: land was leased from the city. PHRASES: a new lease on life a substantially improved chance to lead a happy or successful life.DERIVATIVES: leas·a·ble adj. ORIGIN: late Middle English: from Old French lais, leis, from lesser, laissier ‘let, leave,’ from Latin laxare ‘make loose,’ from laxus ‘loose, lax.’

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