Maryland Code, COMMERCIAL LAW 2A-106
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Maryland Code, COMMERCIAL LAW 2A-106
- Consumer lease: means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is an individual and takes under the lease primarily for a personal, family, or household purpose. See
- 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
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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
- Lessee: means a person who acquires the right to possession and use of goods under a lease. See
(1) If the law chosen by the parties to a consumer lease is that of a jurisdiction other than a jurisdiction: (a) in which the lessee resides at the time the lease agreement becomes enforceable or within 30 days thereafter; (b) in which the goods are to be used; or (c) if the goods are to be used in more than one jurisdiction, none of which is the residence of the lessee, in which the lease is executed by the lessee, the choice is not enforceable.
(2) If the judicial forum chosen by the parties to a consumer lease is a forum that would not otherwise have jurisdiction over the lessee, the choice is not enforceable.