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Termination of an equipment lease based on mutual agreement

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saintsinuhe

Junior Member
I had a lease contract with one of point of sales company in 2015. 8 months later due to running loss, I sent them an email and explained the situation and asked them to cancel my lease. My sales rep replied back and said he will come to pick up the equipment the day after. I asked him if I can keep them for another week, he said no because our office is closed over the new year. I assumed that lease got cancelled based on mutual agreement and closed down the business. I also cancelled GST registration in May. Now and after 7 months, they are asking me why you havent made the payments? I advised them that based on my request and their action for picking up the equipment, that lease has been cancelled and guarantor myself- has no liability for that lease. I was wondering if my assumption is right and company has no right to receive the payment.
 



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