Help & Glossary
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M
Maker - The person who signs a negotiable instrument.
Mark-up - A lessors additional amount included in the capitalized cost of the lease for profit. The markup is a method of defraying costs incurred by the bank in acquiring the property before any income is realized from the lease.
Maturity - Expiration date of a note or lease.
Mechanics Lien - A type of lien created by statute in most states, which exists for those who have performed work on a motor vehicle. The lien attaches to the vehicle and is intended to make sure that person gets paid.
Minor - A person who is under the statutory age of legal competence, usually 18 years old.
Money Factor - The anticipated cost of the lessor's loan to acquire the personal property to be leased. This cost is built into the capitalized cost.
