The thesis deals with the extraordinary termination of the financial leasing contract for movable property. Financial leasing transaction is a continuing obligation and as such is terminated in an extraordinary manner by an extraordinary termination of the financial leasing contract if the fulfilment of the continuing prestation has begun. One of the shortcomings of the regulation of leasing contracts in Croatian law is that the Leasing Act defines the extraordinary manner in which that contract is terminated as ‘rescission’ even though the effects of rescission of that contract do not fully align with the general effects of rescission prescribed by the Obligations Act. This terminology is also used by leasing companies in their general terms and conditions. Considering the fact that terminating the financial leasing contract in an extraordinary manner does not regularly lead to the obligation to return what was received for the purpose of fulfilling the contract and to compensate for the benefits derived from what was fulfilled, which should be the effect of a rescission, this thesis took the position that the financial leasing contract is terminated in an extraordinary manner by an extraordinary termination, with the exception of rescission due to failure to deliver the object. The thesis aimed to provide a systematic overview of the current Croatian business practice regarding the contractual reasons for the extraordinary termination of the financial leasing contract and its effects. The reasons for extraordinary termination prescribed by law are presented and the analysis of the leasing companies’ general terms and conditions resulted in the categorization of contractual reasons into the following groups: reasons preceding the taking over of the object, change of important facts about the lessee and/or guarantor, condition of the object and handling of the object, incorrect data, violation of duty to report and deliver documentation, reasons related to the insurance of the leasing object and of the lessor’s claims, non-payment and other reasons. The analysed effects of the extraordinary termination of the financial leasing contract include: termination of contractual obligations, returning the leasing object, possible monetization of the object and the final settlement of claims.