11 §2-1101. Short title

§2-1101. Short title This Article may be known and cited as the “Uniform Commercial Code — Leases.”   [PL 1991, c. 805, §4 (NEW).] SECTION HISTORY PL 1991, c. 805, §4 (NEW).

11 §2-1102. Scope

§2-1102. Scope This Article applies to any transaction, regardless of form, that creates a lease.   [PL 1991, c. 805, §4 (NEW).] SECTION HISTORY PL 1991, c. 805, §4 (NEW).

11 §2-1103. Definitions

§2-1103. Definitions (1).  In this Article, unless the context otherwise requires, the following terms have the following meaning:   (a). “Buyer in ordinary course of business” means a person who, in good faith and without knowledge that the sale to that person is in violation of the ownership rights or security interest or leasehold interest […]

11 §2-1104. Leases subject to other statutes

§2-1104. Leases subject to other statutes (1).  A lease, although subject to this Article, is also subject to any applicable:   (a). Certificate of title statute of this State;   [PL 1991, c. 805, §4 (NEW).] (b). Certificate of title statute of another jurisdiction (section 2‑1105); or   [PL 1991, c. 805, §4 (NEW).] (c). […]

11 §2-1105. Territorial application of article to goods covered by certificate of title

§2-1105. Territorial application of article to goods covered by certificate of title Subject to the provisions of section 2-1304, subsection (3) and section 2-1305, subsection (3), with respect to goods covered by a certificate of title issued under a statute of this State or of another jurisdiction, compliance and the effect of compliance or noncompliance […]

11 §2-1106. Limitation on power of parties to consumer lease to choose applicable law and judicial forum

§2-1106. Limitation on power of parties to consumer lease to choose applicable law and judicial forum (1).  If the law chosen by the parties to a consumer lease is that of a jurisdiction other than a jurisdiction in which the lessee resides at the time the lease agreement becomes enforceable or within 30 days thereafter […]

11 §2-1107. Waiver or renunciation of claim or right after default

§2-1107. Waiver or renunciation of claim or right after default Any claim or right arising out of an alleged default or breach of warranty may be discharged in whole or in part without consideration by a written waiver or renunciation signed and delivered by the aggrieved party.   [PL 1991, c. 805, §4 (NEW).] SECTION […]

11 §2-1108. Unconscionability

§2-1108. Unconscionability (1).  If the court as a matter of law finds a lease contract or any clause of a lease contract to have been unconscionable at the time it was made, the court may refuse to enforce the lease contract, it may enforce the remainder of the lease contract without the unconscionable clause or […]

11 §2-1109. Option to accelerate at will

§2-1109. Option to accelerate at will (1).  A term providing that one party or that party’s successor in interest may accelerate payment of performance or require collateral or additional collateral “at will,” “when the party represents that that party is insecure” or in words of similar import must be construed to mean that the party […]