Which term refers to a purchaser or lessee in a credit transaction?

The term that refers to a purchaser or lessee in a credit transaction is "debtor." In the context of credit transactions, the debtor is the individual or entity that borrows money, or in the case of a lease, is the party that obtains the right to use an asset for a specified period in exchange for payment. This term captures the essence of the borrower's obligation to repay the borrowed amount or the lease payments over time.

Understanding the role of the debtor is crucial because it encompasses various financial arrangements, including loans, credit extensions, and lease agreements. The debtor has a contractual agreement with a creditor, which is the entity that provides the credit or loan. This relationship is foundational in credit and finance, highlighting the responsibilities and rights of both parties involved in the transaction.