Before beginning this interactive, review the section on "How Sales and Lease Contracts Are Formed under the UCC" in Chapter $21$ of your text. Pay close attention to the requirements for the formation of a contract for the sale or lease of goods, including the offer, acceptance, and consideration.

Contracts for the lease of goods are increasingly important, as consumers $($both individuals and businesses$)$ are more likely to lease goods today than ever before, such as cars, equipment, and machines. Contracts for the lease of goods are covered under UCC Article $2($A$)$ Leases.

Click on the hint below over the headings to reveal more information regarding the formation of a lease contract. Select the, dropdown the box to appropriate location on the timeline.