Vermont Statutes Title 9 Sec. 2a-532
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Terms Used In Vermont Statutes Title 9 Sec. 2a-532
- Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (§ 2A—309), but the term does not include money, documents, instruments, accounts, chattel paper, general intangibles, or minerals or the like, including oil and gas, before extraction. See
- Lessee: means a person who acquires the right to possession and use of goods under a lease. See
- Lessor: means a person who transfers the right to possession and use of goods under a lease. See
§ 2A—532. Lessor‘s rights to residual interest
In addition to any other recovery permitted by this article or other law, the lessor may recover from the lessee an amount that will fully compensate the lessor for any loss of or damage to the lessor’s residual interest in the goods caused by the default of the lessee. (Added 1993, No. 158 (Adj. Sess.), § 10, eff. Jan. 1, 1995.)