Question

John owns an airplane. John enters a lease agreement with Ringo, under which Ringo obtains possession of johns airplane. John is the

Answer 1

John is the lessor in this lease agreement.

Step-by-step explanation:

John is the lessor in this lease agreement. The lessor is the owner of the airplane who grants possession and use of the airplane to the lessee. In this case, John is the owner of the airplane and Ringo is the lessee who obtains possession of the airplane through the lease agreement.