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Today's Terms
Closed-End Lease
Definition:
A lease in which you are not responsible for the difference if the actual value of the item at the scheduled end of the lease is less than the residual value, but you may be responsible for excess wear-and-use charges and for other lease requirements.
Lessee
Definition:
The party to whom the item is leased. In a consumer lease, the lessee is you, the consumer. The lessee is required to make payments and to meet other obligations specified in the lease agreement.
Medwatch program
Definition:
You can also report your suspicions about drugs and medications directly to the FDA by calling the Medwatch program at 1-800-332-1088.
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