U.C.C. Article 2A: The New Face of Leasing?

It has been an unbelievably long and contentious process attempting to create the revisions for Article 2 and 2A, and to draft UCITA, UETA and a variety of other things that are coming out of the uniform law process. We are going to focus today on some things that are new and some things that aren&#...

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Bibliographic Details
Published in:DePaul business & commercial law journal 2005-07, Vol.3 (4), p.559
Main Author: Nimmer, Raymond T
Format: Article
Language:English
Subjects:
Disputes
Leasing
Revisions
State court decisions
Uniform Commercial Code-US
Online Access:Get full text
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Summary:It has been an unbelievably long and contentious process attempting to create the revisions for Article 2 and 2A, and to draft UCITA, UETA and a variety of other things that are coming out of the uniform law process. We are going to focus today on some things that are new and some things that aren't new, but there are four major issues. The first concerns the scope of Article 2A; the broader focus is on the definition of what is a true lease. The second issue concerns warranty and disclaimer treatments in both existing Article 2A and in the revisions in Article 2A. The third issue relates to consumer provisions. By way of preface, Article 2A, as currently enacted, has by far the largest number of specific rules for consumers of any of the other uniform laws. The fourth issue relates to remedies.
ISSN:1542-2763