hire

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Hire

To initiate employment for a person. That is, one hires an employee when one asks him/her to accept a job and he/she agrees. The employer agrees to pay wages and/or salary to the employee, who agrees to perform certain services for the employer. See also: Fire.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

hire

the use by individuals or businesses of an ASSET that is leased to them by the owner of the asset in return for a financial payment (the hire charge). Hiring provides a means for consumers or firms to make use of assets without having to make large cash payments to purchase them. See LEASING.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005