South Carolina Code 36-2A-532. Lessor ‘ s rights to residual interest
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Terms Used In South Carolina Code 36-2A-532
- Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (§ 36-2A-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 South Carolina Code 36-2A-103
- Lessee: means a person who acquires the right to possession and use of goods under a lease. See South Carolina Code 36-2A-103
- Lessor: means a person who transfers the right to possession and use of goods under a lease. See South Carolina Code 36-2A-103
In addition to any other recovery permitted by this chapter 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.