"Andale has negotiated a 15-year concessions agreement with a National Football League (NFL) stadium owner (Jefferson County Stadium Authority, or Jefferson County). The agree- ment would give Andale the right and obligation to operate all of the stadiums fixed conces- sion stands and portable food and beverage carts, to provide food and beverage service to premium seating areas (including suites), and to have hawkers selling concessions in the aisles of the stadium (Popcorn! Soda!), collectively, the Food and Beverage Facilities. The locations of fixed concession stands within the stadium are designated in the architectural drawings included in the draft concessions agreement. The draft contract states that Jefferson County, at its option and at its cost (such as the cost to rebuild leasehold improvements), can require Andale to move its locations within the stadium. The concessions agreement will require Andale to remit 48% of its gross food sales and 54% of its gross alcohol sales to Jefferson County in exchange for the right to operate at the stadium. Andale will also be required to make an upfront payment of $7 million to Jefferson County, which will be used toward capital improvements, build-outs, and branding of the concession facilities. Throughout the operating period of this agreement, Jefferson County will have the right to approve all of Andales proposed menu items, pricing, and choices of suppliers, and Jefferson County has indicated in negotiations that it plans to actively exercise this approval authority. To be chosen as the concession provider for this stadium, Andale submitted a successful bid and was selected from a group of competing potential concessionaires. "

Andale EventsResearch Questions

1. a. List the research questions that Andale would need to evaluate to determine whether its concession agreement is a lease.

b. Next, list the research questions that would result if Andale were to determine whether the arrangement is a lease.

c. Finally, list the research questions that would result if Andale were to determine the arrangement is not a lease.