North Dakota Code 41-02.1-26 – (2A-217) Identification
Current as of: 2023 | Check for updates
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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:
Terms Used In North Dakota Code 41-02.1-26
- Contract: A legal written agreement that becomes binding when signed.
- 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
1. When the lease contract is made, if the lease contract is for a lease of goods that are existing and identified.
2. 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.
3. When the young are conceived, if the lease contract is for a lease of unborn young of animals.