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Can you summarize NHRS 382-A:2A-516?
UNIFORM COMMERCIAL CODE > Effect of Acceptance of Goods; Notice of Default; Burden of Establishing Default After Acceptance; Notice of Claim or Litigation to Person Answerable Over.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the effect of acceptance of goods, notice of default, burden of establishing default after acceptance, and notice of claim or litigation to person answerable over. It applies to lessees and lessors involved in lease contracts for goods. According to the document, a lessee must pay rent for any goods accepted in accordance with the lease contract, and acceptance of goods precludes rejection of the goods accepted. The document also outlines the requirements for notifying the lessor and supplier of any default, as well as the burden of proof on the lessee to establish any default. Additionally, it addresses the procedures for notifying the lessor or supplier in case of litigation and the potential transfer of control of the litigation. No specific exemptions or penalties are mentioned in this document.
Whom does it apply to?
Lessees and lessors involved in lease contracts for goods.
What does it govern?
Effect of Acceptance of Goods; Notice of Default; Burden of Establishing Default After Acceptance; Notice of Claim or Litigation to Person Answerable Over.
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire