|
7-2A-531
Section 7-2A-531 Standing to sue third parties for injury to goods. (1) If a third party
so deals with goods that have been identified to a lease contract as to cause actionable injury
to a party to the lease contract (a) the lessor has a right of action against the third party,
and (b) the lessee also has a right of action against the third party if the lessee: (i) has
a security interest in the goods; (ii) has an insurable interest in the goods; or (iii) bears
the risk of loss under the lease contract or has since the injury assumed that risk as against
the lessor and the goods have been converted or destroyed. (2) If at the time of the injury
the party plaintiff did not bear the risk of loss as against the other party to the lease
contract and there is no arrangement between them for disposition of the recovery, his or
her suit or settlement, subject to his or her own interest, is as a fiduciary for the other
party to the lease contract. (3) Either party with the consent of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-2A-531.htm - 1K - Match Info - Similar pages
7-2A-505
Section 7-2A-505 Cancellation and termination and effect of cancellation, termination,
rescission, or fraud on rights and remedies. (1) On cancellation of the lease contract, all
obligations that are still executory on both sides are discharged, but any right based on
prior default or performance survives, and the cancelling party also retains any remedy for
default of the whole lease contract or any unperformed balance. (2) On termination of the
lease contract, all obligations that are still executory on both sides are discharged but
any right based on prior default or performance survives. (3) Unless the contrary intention
clearly appears, expressions of "cancellation," "rescission," or the like
of the lease contract may not be construed as a renunciation or discharge of any claim in
damages for an antecedent default. (4) Rights and remedies for material misrepresentation
or fraud include all rights and remedies available under this article for default. (5) Neither
rescission nor a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-2A-505.htm - 1K - Match Info - Similar pages
7-2A-405
Section 7-2A-405 Excused performance. Subject to Section 7-2A-404 on substituted
performance, the following rules apply: (a) Delay in delivery or nondelivery in whole or in
part by a lessor or a supplier who complies with paragraphs (b) and (c) is not a default under
the lease contract if performance as agreed has been made impracticable by the occurrence
of a contingency the nonoccurrence of which was a basic assumption on which the lease contract
was made or by compliance in good faith with any applicable foreign or domestic governmental
regulation or order, whether or not the regulation or order later proves to be invalid. (b)
If the causes mentioned in paragraph (a) affect only part of the lessor's or the supplier's
capacity to perform, he or she shall allocate production and deliveries among his or her customers
but at his or her option may include regular customers not then under contract for sale or
lease as well as his or her own requirements for further manufacture. He or she...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-2A-405.htm - 1K - Match Info - Similar pages
22-21-331
Section 22-21-331 Remedies for default in payment of securities or performance of lease
agreement. (a) If there should be any default in the payment of the principal of or interest
on any securities issued under this article, then the holder of any such securities and any
coupons applicable thereto (subject to any provision of the resolution or indenture under
which such securities were issued restricting the individual rights of action of any such
holders or vesting such rights exclusively in a trustee), and the trustee under any indenture,
or any one or more of them: (1) May, by mandamus, injunction or other proceedings, compel
performance of all duties of the directors and officers of the authority with respect to the
use of funds for the payment of such securities and for the performance of the agreements
of the authority contained in the proceedings under which they were issued; (2) Shall be entitled
to a judgment against the authority for the principal of and interest on the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-331.htm - 3K - Match Info - Similar pages
7-2A-306
Section 7-2A-306 Priority of certain liens arising by operation of law. If a person
in the ordinary course of his or her business furnishes services or materials with respect
to goods subject to a lease contract, a lien upon those goods in the possession of that person
given by statute or rule of law for those materials or services takes priority over any interest
of the lessor or lessee under the lease contract or this article unless the lien is created
by statute and the statute provides otherwise or unless the lien is created by rule of law
and the rule of law provides otherwise. (Acts 1992, 2nd Ex. Sess., No. 92-700, p. 92, §306.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-2A-306.htm - 950 bytes - Match Info - Similar pages
41-16A-3
Section 41-16A-3 Definitions. For the purposes of this chapter, the following terms
shall have the respective meanings provided by this section: (a) ALTERNATIVE FINANCING
CONTRACT. A lease, lease-purchase, lease with option to purchase, installment-sale agreement
or arrangement, or other similar agreement or arrangement. (b) GOVERNMENTAL ENTITY. The state;
any political subdivision of the state; any agency, board, commission, or department of the
state; any county; any municipal corporation; any county board of education; any city board
of education; any instrumentality of any of the foregoing; the State Board of Education, acting
for the respective educational institutions under its supervision; each public corporation
that conducts one or more state educational institutions under its supervision; and any public
corporation arising under or organized pursuant to any statute of the state. (c) GRANTOR PARTY.
The lessor under a lease or lease-purchase contract, grantor under an...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-16A-3.htm - 2K - Match Info - Similar pages
7-2-706
Section 7-2-706 Seller's resale including contract for resale. (1) Under the conditions
stated in Section 7-2-703 on seller's remedies, the seller may resell the goods concerned
or the undelivered balance thereof. Where the resale is made in good faith and in a commercially
reasonable manner the seller may recover the difference between the resale price and the contract
price together with any incidental damages allowed under the provisions of this article (Section
7-2-710), but less expenses saved in consequence of the buyer's breach. (2) Except as otherwise
provided in subsection (3) or unless otherwise agreed resale may be at public or private sale
including sale by way of one or more contracts to sell or of identification to an existing
contract of the seller. Sale may be as a unit or in parcels and at any time and place and
on any terms, but every aspect of the sale, including the method, manner, time, place and
terms, must be commercially reasonable. The resale must be reasonably...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-2-706.htm - 2K - Match Info - Similar pages
13A-8-140
Section 13A-8-140 Elements of offense of theft by fraudulent leasing or rental. The
crime of theft by fraudulent leasing or rental of property is committed if a person, herein
called "lessee", signs a written lease or rental contract with a person licensed
to rent or lease tangible personal property under the provisions of Article 4, Chapter 12,
Title 40, herein called "lessor", and obtains or exerts control over tangible personal
property by reason of such rental contract, with the intent, knowledge or expectation that
he will not perform the terms, covenants and agreements of the lessee provided in such rental
contract. (Acts 1986, No. 86-392, p. 576, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/13A-8-140.htm - 975 bytes - Match Info - Similar pages
13A-8-142
Section 13A-8-142 Written demand for return of leased property; form of notice. For
the purposes of Section 13A-8-141 of this article: (1) A written demand for the return
of leased property may be made by personally delivering a copy thereof to the lessee; such
demand may also be delivered to a lessee by certified United States mail, directed to lessee
at his address shown on the rental contract, and the return receipt shall be deemed sufficient
evidence that the demand was received by the lessee, on the date shown on the receipt. (2)
The form of notice to be given under subdivision (1) of Section 13A-8-141 shall be
sufficient if substantially as follows: "This statutory notice is provided pursuant to
Section _____ of the Code of Alabama. You are hereby notified that the name or address
given by you, as lessee, and appearing on the rental contract dated _____, wherein _____ is
the lessor, was fictitious or false. Pursuant to Alabama law you have seven (7) days from
receipt of this...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/13A-8-142.htm - 3K - Match Info - Similar pages
41-10-275
Section 41-10-275 Terms and conditions of leasing by authority. The authority, as lessor,
and the Unified Judicial System, as lessee (acting by and through the Chief Justice or his
designee) are hereby authorized to enter into a lease or leases for the use and occupancy
of the judicial facilities constructed by the authority under the provisions of this article
by the Unified Judicial System, including the Supreme Court, the Court of Criminal Appeals,
the Court of Civil Appeals, the State Law Library and the Administrative Office of Courts.
Such lease or leases may commence, at the discretion of the authority and the lessee, at such
time as the judicial facilities are completed and available for occupancy or at such time
as the site for such judicial facilities is made available for construction of the judicial
facilities. The responsibilities for control, management and maintenance of the judicial facilities
shall be, and any lease entered by the authority, as lessor, shall provide...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-275.htm - 5K - Match Info - Similar pages
|