Delaware Code Title 6 Sec. 2A-217 – Identification
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Identification of goods as goods to which a lease contract refers may be made at any time and in any manner explicitly agreed to by the parties. In the absence of explicit agreement, identification occurs:
(a) When the lease contract is made if the lease contract is for a lease of goods that are existing and identified;
(b) When the goods are shipped, marked, or otherwise designated by the lessor as goods to which the lease contract refers, if the lease contract is for a lease of goods that are not existing and identified; or
(c) When the young are conceived, if the lease contract is for a lease of unborn young of animals.
Terms Used In Delaware Code Title 6 Sec. 2A-217
- Contract: A legal written agreement that becomes binding when signed.
- Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (Section 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 Delaware Code Title 6 Sec. 2A-103
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lease: means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See Delaware Code Title 6 Sec. 2A-103
- Lease contract: means the total legal obligation that results from the lease agreement as affected by this Article and any other applicable rules of law. See Delaware Code Title 6 Sec. 2A-103
- Lessor: means a person who transfers the right to possession and use of goods under a lease. See Delaware Code Title 6 Sec. 2A-103