—n. 1. a contract renting land, buildings, etc., to another; a contract or instrument conveying property to another for a specified period or for a period determinable at the will of either lessor or lessee in consideration of rent or other compensation.
2. the property leased.
3. the period of time for which a lease is made: a five-year lease. 4. a new lease on life, a chance to improve one's situation or to live longer or more happily: Plastic surgery gave him a new lease on life.
—v.t. 1. to grant the temporary possession or use of (lands, tenements, etc.) to another, usually for compensation at a fixed rate; let: She plans to lease her apartment to a friend. 2. to take or hold by lease: He leased the farm from the sheriff.
—v.i. to grant a lease; let or rent: to lease at a lower rental.
Pronunciation: (lēs),[key] —n.Textiles. 1. a system for keeping the warp in position and under control by alternately crossing the warp yarn over and under the lease rods.
2. the order of drawing in the warp ends.