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Can you summarize NHRS 382-A:2A-526?
UNIFORM COMMERCIAL CODE > Lessor's Stoppage of Delivery in Transit or Otherwise.
Short Summary
This legal provision, found in the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the ability of a lessor to stop the delivery of goods in transit or otherwise. It applies to lessors and lessees involved in the lease of goods. The lessor may stop delivery if they discover the lessee to be insolvent or if the lessee repudiates or fails to make a payment due before delivery. The lessor can exercise this right until the goods are received by the lessee or until acknowledgment is received from a bailee or carrier that they hold the goods for the lessee. To stop delivery, the lessor must notify the bailee in a manner that allows them to prevent delivery. The bailee is then obligated to hold and deliver the goods according to the lessor’s directions. However, a carrier who has issued a nonnegotiable bill of lading is not obliged to obey a stop delivery notification from a person other than the consignor.
Whom does it apply to?
Lessors and lessees involved in the lease of goods
What does it govern?
Lessor's Stoppage of Delivery in Transit or Otherwise
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire