Leasing

the possibility of contract decharacterization through the anticipation of the Guaranteed Residual Value (VRG)

Abstract

Society develops constantly, consumption is ever-increasing, making it necessary to have a financing contract that allows access to the market for everyone, thus giving rise to the figure of the Leasing contract. This contract, known in legal circles as "leasing," is a contract in which a person, whether an individual or a legal entity, wishing to use a certain asset for a period of time, does so through a financing company, which acquires and leases it to them. Thus, a lease, or leasing as it is more commonly known, is a financing method for the lessee, allowing them to use and enjoy an asset they need without having to initially disburse the total value of the asset. At the end of the contract, they can extend it, return the asset, or exercise the purchase option, becoming the owner of the asset by paying the Residual Value, which is the total value of the asset less the payments made by the lessee. The Residual Value and the Guaranteed Residual Value (VRG) are part of the lease agreement, but they are different concepts with distinct functions; however, they are often confused as if they were the same. For some time, the Superior Court of Justice (STJ) held that the advance payment of the Guaranteed Residual Value would distort the nature of the lease; however, this understanding has changed, and it is now settled that the advance payment of the VRG does not invalidate the lease agreement. Thus, although there are still several differing doctrinal views, the anticipation of the residual value (VRG) does not lead to the invalidation of the original contract, and is not capable of causing harm to individuals, the community, or society.