North Carolina General Statutes 25-2A-532. Lessor’s rights to residual interest
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In North Carolina General Statutes 25-2A-532
- Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (N. See North Carolina General Statutes 25-2A-103
- Lessee: means a person who acquires the right to possession and use of goods under a lease. See North Carolina General Statutes 25-2A-103
- Lessor: means a person who transfers the right to possession and use of goods under a lease. See North Carolina General Statutes 25-2A-103
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. (1993, c. 463, s. 1.)