Ask Reggi Your Question Now
Reggi is the free generative AI assistance for regulatory compliance
Can you summarize MNST 336.2A-522?
UNIFORM COMMERCIAL CODE > LESSEE'S RIGHT TO GOODS ON LESSOR'S INSOLVENCY.
Short Summary
(1) Subject to subsection (2) and even though the goods have not been shipped, a lessee who has paid a part or all of the rent and security for goods identified to a lease contract (section 336.2A-217 ) on making and keeping good a tender of any unpaid portion of the rent and security due under the lease contract may recover the goods identified from the lessor if the lessor becomes insolvent within ten days after receipt of the first installment of rent and security. (2) A lessee acquires the right to recover goods identified to a lease contract only if they conform to the lease contract. History: 1989 c 232 art 1 s 2A-522
Jurisdiction
Minnesota