A contract that involves elements of both sales and leasing is best described as?

A contract that encompasses elements of both sales and leasing is best described as a hybrid contract. Hybrid contracts combine characteristics of different types of agreements, in this case merging the aspects of sale (ownership transfer) and lease (temporary possession and use). This type of contract can often be found in real estate scenarios, such as a lease purchase agreement, where a tenant has the option to purchase the property at a later time after renting.

The term "mixed contract" might suggest varying elements but doesn't specifically denote the combination of sales and leasing as clearly. A contingent contract typically includes conditions that must be met for the contract to become enforceable but does not relate to the combination of sales and lease elements. A bilateral contract refers to an agreement where both parties make mutual promises, which can apply to many contract types, including the hybrid scenario, but does not specifically highlight the integration of sales and leasing. Thus, the terminology of hybrid contract is the most fitting in this context.