We know what an equipment lease is. The Uniform Commercial Code defines it for us: “'Lease' means a transfer of the right to possession and use of goods for a period in return for consideration … ” UCC '2A-103(p). “ Goods” include equipment.
Can a Remedies Opinion Be Given on an Equipment Lease?
We know what an equipment lease is. The Uniform Commercial Code defines it for us: "'Lease' means a transfer of the right to possession and use of goods for a period in return for consideration ... " UCC '2A-103(p). "Goods" include equipment. <i>Id.</i> '2A-103(n). If an agreement qualifies as a lease, then the "lease contract is effective and enforceable according to its terms between the parties, against purchasers of the goods and against creditors of the parties." UCC '2A-301. What could be clearer?
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