Explain when does a contract meet the definition of a lease?

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter20: Accounting For Leases
Section: Chapter Questions
Problem 4GI: What is a substitution right, and when does that right result in a contract not being a lease?
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Explain when does a contract meet the definition of a lease?

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