<P> A lease is a legal contract, and thus enforceable by all parties under the contract law of the applicable jurisdiction . </P> <P> In the United States, since it also represents a conveyance of possessory rights to real estate, it is a hybrid sort of contract that involves qualities of a deed . </P> <P> Some specific kinds of leases may have specific clauses required by statute depending upon the property being leased, and / or the jurisdiction in which the agreement was signed or the residence of the parties . </P> <P> Common elements of a lease agreement include: </P>

The two types of contracts involved with leasing a car are called​