Kentucky Statutes 355.2A-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.
Effective: January 1, 1993
History: Created 1992 Ky. Acts ch. 116, sec. 23, effective January 1, 1993.
Effective: January 1, 1993
Terms Used In Kentucky Statutes 355.2A-532
- Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (KRS §. See Kentucky Statutes 355.2A-103
- Lessee: means a person who acquires the right to possession and use of goods under a lease. See Kentucky Statutes 355.2A-103
- Lessor: means a person who transfers the right to possession and use of goods under a lease. See Kentucky Statutes 355.2A-103
History: Created 1992 Ky. Acts ch. 116, sec. 23, effective January 1, 1993.