Code of Alabama

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7-2A-219
Section 7-2A-219 Risk of loss. (1) Except in the case of a finance lease, risk of loss
is retained by the lessor and does not pass to the lessee. In the case of a finance lease,
risk of loss passes to the lessee. (2) Subject to the provisions of this article on the effect
of default on risk of loss (Section 7-2A-220), if risk of loss is to pass to the lessee
and the time of passage is not stated, the following rules apply: (a) If the lease contract
requires or authorizes the goods to be shipped by carrier (i) and it does not require delivery
at a particular destination, the risk of loss passes to the lessee when the goods are duly
delivered to the carrier; but (ii) if it does require delivery at a particular destination
and the goods are there duly tendered while in the possession of the carrier, the risk of
loss passes to the lessee when the goods are there duly so tendered as to enable the lessee
to take delivery. (b) If the goods are held by a bailee to be delivered without being...
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7-2A-221
Section 7-2A-221 Casualty to identified goods. If a lease contract requires goods identified
when the lease contract is made, and the goods suffer casualty without fault of the lessee,
the lessor or the supplier before delivery, or the goods suffer casualty before risk of loss
passes to the lessee pursuant to the lease agreement or Section 7-2A-219, then: (a)
if the loss is total, the lease contract is voided; and (b) if the loss is partial or the
goods have so deteriorated as to no longer conform to the lease contract, the lessee may nevertheless
demand inspection and at his or her option either treat the lease contract as voided or, except
in a finance lease, accept the goods with due allowance from the rent payable for the balance
of the lease term for the deterioration or the deficiency in quantity but without further
right against the lessor. (Acts 1992, 2nd Ex. Sess., No. 92-700, p. 92, ยง221.)...
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7-2-509
Section 7-2-509 Risk of loss in the absence of breach. (1) Where the contract requires
or authorizes the seller to ship the goods by carrier: (a) If it does not require him to deliver
them at a particular destination, the risk of loss passes to the buyer when the goods are
duly delivered to the carrier even though the shipment is under reservation (Section
7-2-505); but (b) If it does require him to deliver them at a particular destination and the
goods are there duly tendered while in the possession of the carrier, the risk of loss passes
to the buyer when the goods are there duly so tendered as to enable the buyer to take delivery.
(2) Where the goods are held by a bailee to be delivered without being moved, the risk of
loss passes to the buyer: (a) On his receipt of possession or control of a negotiable document
of title covering the goods; or (b) On acknowledgment by the bailee of the buyer's right to
possession of the goods; or (c) After his receipt of possession or control of a...
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7-2A-220
Section 7-2A-220 Effect of default on risk of loss. (1) Where risk of loss is to pass
to the lessee and the time of passage is not stated: (a) If a tender or delivery of goods
so fails to conform to the lease contract as to give a right of rejection, the risk of their
loss remains with the lessor, or, in the case of a finance lease, the supplier, until cure
or acceptance. (b) If the lessee rightfully revokes acceptance, he or she, to the extent of
any deficiency in his or her effective insurance coverage, may treat the risk of loss as having
remained with the lessor from the beginning. (2) Whether or not risk of loss is to pass to
the lessee, if the lessee as to conforming goods already identified to a lease contract repudiates
or is otherwise in default under the lease contract, the lessor, or, in the case of a finance
lease, the supplier, to the extent of any deficiency in his or her effective insurance coverage
may treat the risk of loss as resting on the lessee for a commercially...
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8-20-4
Section 8-20-4 Unfair and deceptive trade practices. Notwithstanding the terms, provisions,
or conditions of any dealer agreement or franchise or the terms or provisions of any waiver,
prior to the termination, cancellation, or nonrenewal of any dealer agreement or franchise,
the following acts or conduct shall constitute unfair and deceptive trade practices: (1) For
any manufacturer, factory branch, factory representative, distributor, or wholesaler, distributor
branch, or distributor representative to coerce or attempt to coerce any motor vehicle dealer
to do any of the following: a. To accept, buy, or order any motor vehicle or vehicles, appliances,
equipment, parts, or accessories therefor, or any other commodity or commodities or service
or services which such motor vehicle dealer has not voluntarily ordered or requested except
items required by applicable local, state, or federal law; or to require a motor vehicle dealer
to accept, buy, order, or purchase such items in order to...
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7-2A-529
Section 7-2A-529 Lessor's action for the rent. (1) After default by the lessee under
the lease contract of the type described in Section 7-2A-523(1) or 7-2A-523(3)(a) or,
if agreed, after other default by the lessee, if the lessor complies with subsection (2),
the lessor may recover from the lessee as damages: (a) for goods accepted by the lessee and
not repossessed by or tendered to the lessor, and for conforming goods lost or damaged within
a commercially reasonable time after risk of loss passes to the lessee (Section 7-2A-219),
(i) accrued and unpaid rent as of the date of entry of judgment in favor of the lessor, (ii)
the present value as of the same date of the rent for the then remaining lease term of the
lease agreement, and (iii) any incidental damages allowed under Section 7-2A-530, less
expenses saved in consequence of the lessee's default; and (b) for goods identified to the
lease contract if the lessor is unable after reasonable effort to dispose of them at a reasonable...

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7-1-203
Section 7-1-203 Lease distinguished from security interest. (a) Whether a transaction
in the form of a lease creates a lease or security interest is determined by the facts of
each case. (b) A transaction in the form of a lease creates a security interest if the consideration
that the lessee is to pay the lessor for the right to possession and use of the goods is an
obligation for the term of the lease and is not subject to termination by the lessee, and:
(1) The original term of the lease is equal to or greater than the remaining economic life
of the goods; (2) The lessee is bound to renew the lease for the remaining economic life of
the goods or is bound to become the owner of the goods; (3) The lessee has an option to renew
the lease for the remaining economic life of the goods for no additional consideration or
for nominal additional consideration upon compliance with the lease agreement; or (4) The
lessee has an option to become the owner of the goods for no additional...
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40-29-22
Section 40-29-22 Lien for taxes - Validity and priority against certain persons. (a)
Purchasers, holders of security interests, mechanic's lienors, and judgment lien creditors.
The lien imposed by Section 40-29-20 shall not be valid as against any purchaser, holder
of a security interest, mechanic's lienor, or judgment lien creditor until notice thereof
which meets the requirements of subsection (f) has been filed by the Commissioner of Revenue
or his delegate, and shall not be perfected as against any purchaser, holder of a security
interest, mechanic's lienor, or judgment lien creditor until the date such notice is filed.
(b) Protection for certain interest even though notice filed. Even though notice of a lien
imposed by Section 40-29-20 has been filed, such lien shall not be valid: (1) SECURITIES.
With respect to a security (as defined in subsection (g)(4)): a. As against a purchaser of
such security who at the time of purchase did not have actual notice or knowledge of the...

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45-9-243.40
Section 45-9-243.40 Privilege or license tax. (a) The following words, terms, and phrases,
when used in this section, shall have the meanings ascribed to them in this subsection,
except where the context clearly indicates a different meaning: (1) PERSON. Any natural person,
firm, partnership, association, corporation, receiver, trust, estate, or other entity, or
any other group or combination of any thereof acting as a unit. (2) COUNTY. Chambers County,
Alabama. (3) BUSINESS. All activities engaged in, or caused to be engaged in, by any person
with the object of gain, profit, benefit, or advantage, either direct or indirect to such
person. (4) GROSS PROCEEDS. The value proceeding or accruing from the leasing or rental of
tangible personal property, without any deduction on account of the cost of the property so
leased or rented, the cost of materials used, labor, or service cost, interest paid or any
other expenses whatsoever, and without any deduction on account of loss and shall also...

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27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus
Lines Insurance Multi-State Compliance Compact Act is enacted into law and entered into with
all jurisdictions mutually adopting the compact in the form substantially as follows: PREAMBLE
WHEREAS, with regard to Non-Admitted Insurance policies with risk exposures located in multiple
states, the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted
and Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
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