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Can you summarize NHRS 382-A:2A-531?
UNIFORM COMMERCIAL CODE > Standing to Sue Third Parties for Injury to Goods.
Short Summary
This provision, found in the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the standing to sue third parties for injury to goods. It states that if a third party causes actionable injury to a party to the lease contract, the lessor and the lessee both have a right of action against the third party under certain conditions. The lessor has a right of action regardless, while the lessee has a right of action if they have a security interest in the goods, an insurable interest in the goods, or bear the risk of loss under the lease contract. If the party plaintiff did not bear the risk of loss at the time of the injury and there is no arrangement for disposition of the recovery, their suit or settlement is as a fiduciary for the other party to the lease contract. Either party, with the consent of the other, may sue for the benefit of whom it may concern.
Whom does it apply to?
Parties to a lease contract and third parties who cause actionable injury to the goods
What does it govern?
Standing to Sue Third Parties for Injury to Goods
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
New Hampshire