(1) A lease contract may be made in any manner sufficient to show agreement, including conduct by both parties which recognizes the existence of a lease contract. (2) An agreement sufficient to constitute a lease contract may be found although the moment of its making is undetermined. (3) Although one or more terms are left open, a lease contract does not fail for indefiniteness if the parties have intended to make a lease contract and there is a reasonably certain basis for giving an appropriate remedy.

An offer by a merchant to lease goods to or from another person in a signed record that by its terms gives assurance it will be held open is not revocable, for lack of consideration, during the time stated or, if no time is stated, for a reasonable time, but in no event may the period of irrevocability exceed 3 months. Any such term of assurance on a form supplied by the offeree must be separately signed by the offeror.

(1) Unless otherwise unambiguously indicated by the language or circumstances, an offer to make a lease contract must be construed as inviting acceptance in any manner and by any medium reasonable in the circumstances. (2) If the beginning of a requested performance is a reasonable mode of acceptance, an offeror who is not notified of acceptance within a reasonable time may treat the offer as having lapsed before acceptance. Source. 1993, 345:1, eff.

(1) An agreement modifying a lease contract needs no consideration to be binding. (2) A signed lease agreement that excludes modification or rescission except by a signed record may not be otherwise modified or rescinded, but, except as between merchants, such a requirement on a form supplied by a merchant must be separately signed by the other party. (3) Although an attempt at modification or rescission does not satisfy the requirements of subsection (2), it may operate as a waiver.

This provision states that the benefit of a supplier’s promises and warranties under a supply contract extends to the lessee to the extent of their leasehold interest under a finance lease related to the supply contract. However, this extension of benefit does not modify the rights and obligations of the parties to the supply contract or impose any duty or liability on the lessee. Any modification or rescission of the supply contract by the supplier and the lessor is effective between the supplier and the lessee, unless the supplier has received notice of the lessee entering into a finance lease related to the supply contract.

This provision, found in the New Hampshire Revised Statutes under the Uniform Commercial Code, governs express warranties in commercial transactions between lessors and lessees. It outlines the conditions under which express warranties are created by the lessor. An express warranty is created when the lessor makes an affirmation of fact or promise to the lessee regarding the goods, or when a description of the goods or a sample/model is made part of the basis of the bargain.

(1) There is in a lease contract a warranty that for the lease term no person holds a claim to or interest in the goods that arose from an act or omission of the lessor, other than a claim by way of infringement or the like, which will interfere with the lessee’s enjoyment of its leasehold interest. (2) Except in a finance lease there is in a lease contract by a lessor who is a merchant regularly dealing in goods of the kind a warranty that the goods are delivered free of the rightful claim of any person by way of infringement or the like.

(1) Except in a finance lease, a warranty that the goods will be merchantable is implied in a lease contract if the lessor is a merchant with respect to goods of that kind. (2) Goods to be merchantable must be at least such as (a) pass without objection in the trade under the description in the lease agreement; (b) in the case of fungible goods, are of fair average quality within the description; (c) are fit for the ordinary purposes for which goods of that type are used; (d) run, within the variation permitted by the lease agreement, of even kind, quality, and quantity within each unit and among all units involved; (e) are adequately contained, packaged, and labeled as the lease agreement may require; and (f) conform to any promises or affirmations of fact made on the container or label.

Except in a finance lease, if the lessor at the time the lease contract is made has reason to know of any particular purpose for which the goods are required and that the lessee is relying on the lessor’s skill or judgment to select or furnish suitable goods, there is in the lease contract an implied warranty that the goods will be fit for that purpose. Source. 1993, 345:1, eff. Jan.

This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the exclusion or modification of warranties in commercial transactions. It provides guidelines for interpreting words or conduct related to the creation of express warranties and the negation or limitation of warranties. The document specifies the requirements for excluding or modifying the implied warranty of merchantability and the implied warranty of fitness. It also outlines circumstances where all implied warranties can be excluded, such as through expressions like ‘as is’ or ‘with all faults.