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7-2-722
Section 7-2-722 Who can sue third parties for injury to goods. Where a third party so
deals with goods which have been identified to a contract for sale as to cause actionable
injury to a party to that contract: (a) A right of action against the third party is
in either party to the contract for sale who has title to or a security interest or a special
property or an insurable interest in the goods; and if the goods have been destroyed or converted
a right of action is also in the party who either bore the risk of loss under the contract
for sale or has since the injury assumed that risk as against the other; (b) If at
the time of the injury the party plaintiff did not bear the risk of loss as against
the other party to the contract for sale and there is no arrangement between them for disposition
of the recovery, his suit or settlement is, subject to his own interest, as a fiduciary for
the other party to the contract; (c) Either party may with the consent of the other sue for
the...
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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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7-2-501
Section 7-2-501 Insurable interest in goods; manner of identification of goods. (1) The buyer
obtains a special property and an insurable interest in goods by identification of existing
goods as goods to which the contract refers even though the goods so identified are nonconforming
and he has an option to return or reject them. Such identification can be made at any time
and in any manner explicitly agreed to by the parties. In the absence of explicit agreement
"identification" occurs: (a) When the contract is made if it is for the sale of
goods already existing and identified; (b) If the contract is for the sale of future goods
other than those described in paragraph (c), when goods are shipped, marked or otherwise designated
by the seller as goods to which the contract refers; (c) When the crops are planted or otherwise
become growing crops or the young are conceived if the contract is for the sale of unborn
young to be born within 12 months after contracting or for the sale of...
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28-4-91
Section 28-4-91 Forfeiture of rights of lessee under lease or rent contract. The unlawful manufacture,
sale, keeping for sale, giving away or otherwise disposing of any prohibited liquors or beverages
contrary to the law of the state or the carrying on of the business of a retail or wholesale
dealer in liquors or retail or wholesale dealer in malt liquors or the business of a brewer,
distiller or rectifier of spirits shall, at the option of the landlord or lessor, work a forfeiture
of all the rights of any lessee or tenant under any lease or contract of rent of the premises
where such unlawful act is performed or such unlawful business is conducted by the lessee
or tenant or by any agent, servant, clerk or employee of the lessee or tenant with the latter's
knowledge or permission. (Acts 1909, No. 191, p. 63; Acts 1915, No. 2, p. 8; Code 1923, §4684;
Code 1940, T. 29, §154.)...
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7-2A-403
Section 7-2A-403 Retraction of anticipatory repudiation. (1) Until the repudiating party's
next performance is due, the repudiating party can retract the repudiation unless, since the
repudiation, the aggrieved party has cancelled the lease contract or materially changed the
aggrieved party's position or otherwise indicated that the aggrieved party considers the repudiation
final. (2) Retraction may be by any method that clearly indicates to the aggrieved party that
the repudiating party intends to perform under the lease contract and includes any assurance
demanded under Section 7-2A-401. (3) Retraction reinstates a repudiating party's rights under
a lease contract with due excuse and allowance to the aggrieved party for any delay occasioned
by the repudiation. (Acts 1992, 2nd Ex. Sess., No. 92-700, p. 92, §403.)...
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7-2A-407
Section 7-2A-407 Irrevocable promises: Finance leases. (1) In the case of a finance lease that
is not a consumer lease the lessee's promises under the lease contract become irrevocable
and independent upon the lessee's acceptance of the goods. (2) A promise that has become irrevocable
and independent under subsection (1): (a) is effective and enforceable between the parties,
and by or against third parties including assignees of the parties; and (b) is not subject
to cancellation, termination, modification, repudiation, excuse, or substitution without the
consent of the party to whom the promise runs. (3) This section does not affect the validity
under any other law of a covenant in any lease contract making the lessee's promises irrevocable
and independent upon the lessee's acceptance of the goods. (Acts 1992, 2nd Ex. Sess., No.
92-700, p. 92, §407.)...
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7-2A-502
Section 7-2A-502 Notice after default. Except as otherwise provided in this article or the
lease agreement, the lessor or lessee in default under the lease contract is not entitled
to notice of default or notice of enforcement from the other party to the lease agreement.
(Acts 1992, 2nd Ex. Sess., No. 92-700, p. 92, §502.)...
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37-9-23
Section 37-9-23 Certificates for common carriers and permits for contract carriers - Transfer
or lease. Any certificate or permit may be transferred or leased subject to the approval of
the commission and under such rules and regulations as may be prescribed by the commission.
Except where a transfer of a certificate or a permit results from the operation of law, approval
of such transfer or lease shall be given only upon a finding by the commission, after notice
and opportunity for a hearing, that such transfer or lease will be consistent with the public
interest. The application for approval shall be made jointly by the transferor and the transferee
or lessor and lessee. No value shall be allowed for any purpose for any certificate or permit
issued under this chapter. (Acts 1945, No. 269, p. 414, §13.)...
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7-2-105
Section 7-2-105 Definitions: "Transferability"; "goods"; "future goods";
"lot"; "commercial unit." (1) "Goods" means all things (including
specially manufactured goods) which are movable at the time of identification to the contract
for sale other than the money in which the price is to be paid, investment securities (Article
8) and things in action. "Goods" also includes the unborn young of animals and growing
crops and other identified things attached to realty as described in the section on goods
to be severed from realty (Section 7-2-107). (2) Goods must be both existing and identified
before any interest in them can pass. Goods which are not both existing and identified are
"future goods". A purported present sale of future goods or of any interest therein
operates as a contract to sell. (3) There may be a sale of a part interest in existing identified
goods. (4) An undivided share in an identified bulk of fungible goods is sufficiently identified
to be sold although the quantity...
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7-2A-205
Section 7-2A-205 Firm offers. An offer by a merchant to lease goods to or from another person
in a signed writing that by its terms gives assurance it will be held open is not revocable,
for lack of consideration, during the time stated or, if no time is stated, for a reasonable
time, but in no event may the period of irrevocability exceed 3 months. Any such term of assurance
on a form supplied by the offeree must be separately signed by the offeror. (Acts 1992, 2nd
Ex. Sess., No. 92-700, p. 92, §205.)...
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