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Can you summarize WVCO Chapter 46, Article 2A?
UNIFORM COMMERCIAL CODE. > LEASES.
Short Summary
This legal document pertains to leases under the Uniform Commercial Code (UCC). It provides definitions for various terms used in lease contracts, such as ‘buyer in ordinary course of business,’ ‘cancellation,’ ‘commercial unit,’ ‘conforming goods,’ ‘consumer lease,’ ‘fault,’ ‘finance lease,’ ‘goods,’ ‘installment lease contract,’ ’lease,’ ’lease agreement,’ ’lease contract,’ ’leasehold interest,’ ’lessee,’ ’lessee in ordinary course of business,’ ’lessor,’ ’lessor’s residual interest,’ ’lien,’ ’lot,’ ‘merchant lessee,’ ‘present value,’ ‘purchase,’ ‘sublease,’ ‘supplier,’ ‘supply contract,’ and ’termination.’ The document also references definitions from other articles of the UCC that apply to leases. It does not specify any exemptions or penalties. Overall, this document provides a comprehensive framework for understanding and interpreting lease contracts governed by the UCC.
Whom does it apply to?
Parties involved in lease contracts governed by the UCC
What does it govern?
Leases under the Uniform Commercial Code (UCC)
What are exemptions?
No exemptions or penalties are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
West Virginia