Similarities and differences of purchase and sale by instalments, leasing and financial lease contracts and their separation

The regulation of sale-purchase agreement by installments, financial lease and leasing agreements in the Republic of Lithuania was established only along with the new civil code. For this reason all of the above mentioned agreements are deemed as considerably new and the regulation in regards to those agreements is not sufficiently clear. As a matter of fact, all of the above mentioned types of agreements have their relative similarities, this being the reason that sometimes it becomes difficult to differ one from the other in a situation when a conflict arises as we need to define which rule of law shall be applied. It is precisely why the regulation of these specific agreements was analyzed in this survey. The regulation of these contracts were compared to those established in the Netherlands, Germany, considerable amount of attention was directed to the international documents and the jurisprudence. In the first part of the survey all of the attention was being directed to the existing legislation of the above mentioned agreements, comparison of the regulations in various countries as well as international documents in regards to these contracts, the whole meaning of these agreements and some hystorical aspects. The second part of the survey concentrates on the qualification of the contracts, which embodies the differences between the above mentioned agreements. Thorough analysis of the jurisprudence in regards to every agreement was completed and the rights and obligations of the parties, the consequences of the termination of those agreements taking into consideration the problematics of interpretation of the contracts was completed. The third part of the survey consists of the analysis of the legal and tax related aspects of the contract, the application of the registration of the contracts and taxation of every one of the contracts under the scope of the survey by undergoing an analysis under the law of the Republic of Lithuania