This legal document is part of the New Hampshire Revised Statutes and specifically pertains to the Uniform Commercial Code (UCC). It governs various aspects of commercial transactions involving the sale and lease of goods. The document provides definitions for key terms used in the UCC, such as ‘buyer in ordinary course of business,’ ‘commercial unit,’ ‘conforming goods,’ ‘consumer lease,’ ‘fault,’ ‘finance lease,’ ‘goods,’ ‘hybrid lease,’ ‘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.

(1) A lease, although subject to this Article, is also subject to any applicable: (a) certificate of title statute of this state, including RSA 260 and RSA 261; (b) certificate of title statute of another jurisdiction (Section 2A-105); or (c) RSA 358-A or any other consumer protection statute of this state, or final consumer protection decision of a court of this state existing on the effective date of this Article. (2) In case of conflict between this Article, other than Sections 2A-105, 2A-304(3), and 2A-305(3), and a statute or decision referred to in subsection (1), the statute or decision controls.

Subject to the provisions of Sections 2A-304(3) and 2A-305(3), with respect to goods covered by a certificate of title issued under a statute of this State or of another jurisdiction, compliance and the effect of compliance or noncompliance with a certificate of title statute are governed by the law (including the conflict of laws rules) of the jurisdiction issuing the certificate until the earlier of (a) surrender of the certificate, or (b) 4 months after the goods are removed from that jurisdiction and thereafter until a new certificate of title is issued by another jurisdiction.

(1) If the law chosen by the parties to a consumer lease is that of a jurisdiction other than a jurisdiction in which the lessee resides at the time the lease agreement becomes enforceable or within 30 days thereafter or in which the goods are to be used, the choice is not enforceable. (2) If the judicial forum chosen by the parties to a consumer lease is a forum that would not otherwise have jurisdiction over the lessee, the choice is not enforceable.

Any claim or right arising out of an alleged default or breach of warranty may be discharged in whole or in part without consideration by a waiver or renunciation in a signed record delivered by the aggrieved party. Source. 1993, 345:1, eff. Jan. 1, 1994. 2023, 236:12, eff. Oct. 7, 2023.

This provision, found in the New Hampshire Revised Statutes under the Uniform Commercial Code, addresses the issue of unconscionability in lease contracts. If a court determines that a lease contract or any clause within it was unconscionable at the time it was made, the court has several options. It may refuse to enforce the entire lease contract, enforce the remainder of the lease contract without the unconscionable clause, or limit the application of the unconscionable clause to avoid any unconscionable result.

(1) A term providing that one party or his successor in interest may accelerate payment or performance or require collateral or additional collateral ‘at will’ or ‘when he deems himself insecure’ or in words of similar import must be construed to mean that he has power to do so only if he in good faith believes that the prospect of payment or performance is impaired. (2) With respect to a consumer lease, the burden of establishing good faith under subsection (1) is on the party who exercised the power; otherwise the burden of establishing lack of good faith is on the party against whom the power has been exercised.

The Statute of Frauds, as outlined in the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the enforceability of lease contracts. According to the statute, a lease contract is not enforceable unless the total payments under the contract are less than $1,000 or there is a signed record indicating the existence of a lease contract and describing the goods leased and the lease term. The statute also states that a lease contract can still be enforceable under certain circumstances, such as when the goods are specially manufactured for the lessee, when the party against whom enforcement is sought admits the existence of a lease contract, or when the goods have been received and accepted by the lessee.

Terms with respect to which the confirmatory memoranda of the parties agree or which are otherwise set forth in a record intended by the parties as a final expression of their agreement with respect to such terms as are included therein may not be contradicted by evidence of any prior agreement or of a contemporaneous oral agreement but may be explained or supplemented: (a) by course of dealing or usage of trade or by course of performance; and (b) by evidence of consistent additional terms unless the court finds the record to have been intended also as a complete and exclusive statement of the terms of the agreement.

The affixing of a seal to a record evidencing a lease contract or an offer to enter into a lease contract does not render the record a sealed instrument and the law with respect to sealed instruments does not apply to the lease contract or offer. Source. 1993, 345:1, eff. Jan. 1, 1994. 2022, 281:20, eff. Jan. 1, 2023.