LESSEE Definition

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LESSEE is the party to whom the possession of specified property has been conveyed for a period of time in return for rental payments.

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INDEX-LINKED BOND provides a secure investment in real terms, as the coupon payments and the redemption proceeds are linked to movements in the RPI (the Retail Prices Index).

STALE CHECK is a check that is six months or older than the date affixed to the check by the maker. If a customer's check is presented more than six months after the date appearing on the check, the paying bank has the option of paying or dishonoring the check because the check is deemed "stale".

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