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Can you summarize NHRS 382-A:2A-219?
UNIFORM COMMERCIAL CODE > Risk of Loss.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, addresses the risk of loss in commercial lease agreements. It states that in most cases, the risk of loss is retained by the lessor and does not pass to the lessee. However, in the case of a finance lease, the risk of loss passes to the lessee. The document also provides rules for determining when the risk of loss passes to the lessee if it is not explicitly stated in the lease contract. These rules vary depending on whether the goods are shipped by carrier, held by a bailee, or in other cases. The document does not mention any specific exemptions or penalties related to the risk of loss in commercial leases.
Whom does it apply to?
Lessors and lessees in commercial lease agreements
What does it govern?
Risk of loss in commercial leases
What are exemptions?
There are no specific exemptions mentioned in the provided document.
What are the Penalties?
No penalties are mentioned in the provided document.
Jurisdiction
New Hampshire