New Mexico Statutes 55-2A-532. Lessor’s rights to residual interest
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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.
Terms Used In New Mexico Statutes 55-2A-532
- goods: means all things that are movable at the time of identification to the lease contract or are fixtures (Section New Mexico Statutes 55-2A-103
- lessee: means a person who acquires the right to possession and use of goods under a lease. See New Mexico Statutes 55-2A-103
- lessor: means a person who transfers the right to possession and use of goods under a lease. See New Mexico Statutes 55-2A-103