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Can you summarize NHRS 382-A:2A-103?
UNIFORM COMMERCIAL CODE > Definitions and Index of Definitions.
Short Summary
This legal document is part of the New Hampshire Revised Statutes and specifically pertains to the Uniform Commercial Code (UCC). It governs various aspects of commercial transactions involving the sale and lease of goods. The document provides definitions for key terms used in the UCC, such as ‘buyer in ordinary course of business,’ ‘commercial unit,’ ‘conforming goods,’ ‘consumer lease,’ ‘fault,’ ‘finance lease,’ ‘goods,’ ‘hybrid lease,’ ‘installment lease contract,’ ’lease,’ ’lease agreement,’ ’lease contract,’ ’leasehold interest,’ ’lessee,’ ’lessee in ordinary course of business,’ ’lessor,’ ’lessor’s residual interest,’ ’lien,’ ’lot,’ ‘merchant lessee,’ ‘present value,’ ‘purchase,’ ‘sublease,’ ‘supplier,’ ‘supply contract,’ and ’termination.’ It also references definitions from other articles within the UCC. The document does not mention any specific exemptions or penalties. Overall, it provides a framework for understanding and interpreting the legal rights and obligations of parties involved in commercial lease and sale transactions.
Whom does it apply to?
Buyers and lessees of goods, lessors and suppliers of goods, and persons involved in lease transactions
What does it govern?
Uniform Commercial Code (Chapter 382-A)
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire