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Can you summarize NHRS 382-A:2A-524?
UNIFORM COMMERCIAL CODE > Lessor's Right to Identify Goods to Lease Contract.
Short Summary
This provision, found in the New Hampshire Revised Statutes under the Uniform Commercial Code, pertains to the lessor’s right to identify goods to a lease contract in the event of default by the lessee. If the lessee defaults under the lease contract, the lessor has the right to identify conforming goods that were in their possession or control at the time of default. Additionally, the lessor can dispose of goods that were intended for the lease contract, even if they are unfinished. In the case of unfinished goods, the aggrieved lessor or supplier can choose to complete manufacture and identify the goods to the lease contract, or cease manufacture and lease, sell, or dispose of the goods in a reasonable manner. This provision provides guidance on the actions that can be taken by the lessor in such situations.
Whom does it apply to?
Lessors and lessees involved in lease contracts
What does it govern?
Lessor's right to identify goods to lease contract
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire