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Can you summarize 47 AZRS Chapter 2A?
Uniform Commercial Code > LEASESSec: 47-2A101-47-2A532
Short Summary
The provided legal document content pertains to lease contracts governed by the Arizona Revised Statutes under the Uniform Commercial Code. It covers various aspects of lease contracts, including the risk of loss, warranties, rights and remedies of lessors and lessees, and the allocation of responsibilities and obligations. The documents outline the conditions under which the risk of loss passes to the lessee, the rights and remedies available to the lessor in case of default or breach of the lease contract, and the obligations of the parties regarding warranties and insurance. They also address the passing of risk of loss in different scenarios, the creation and modification of lease contracts, and the enforceability of the provisions. The documents apply to a wide range of entities involved in lease transactions, including buyers, lessees, lessors, suppliers, creditors, sublessees, subsequent lessees, and parties to a lease contract. No specific exemptions or penalties for non-compliance or violation of the provisions are mentioned.
Whom does it apply to?
Buyers, lessees, lessors, suppliers, creditors, sublessees, subsequent lessees, parties to a lease contract
What does it govern?
Lease contracts, risk of loss, warranties, rights and obligations of lessors and lessees
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties for non-compliance or violation of the provisions are mentioned.
Jurisdiction
Arizona