§ 25-2A-101 – Short title.
25-2A-101. Short title. This Article shall be known and may be cited as the Uniform Commercial Code – Leases. (1993, c. 463, s. 1.)
§ 25-2A-102 – Scope.
25-2A-102. Scope. This Article applies to any transaction, regardless of form, that creates a lease. (1993, c. 463, s. 1.)
§ 25-2A-103 – Definitions and index of definitions.
25-2A-103. Definitions and index of definitions. (1) In this Article unless the context otherwise requires: (a) "Buyer in ordinary course of business" means a person who, in good faith and without knowledge that the sale to him is in violation of the ownership rights or security interest or leasehold interest of a third party in […]
§ 25-2A-104 – Leases subject to other law.
25-2A-104. Leases subject to other law. (1) A lease, although subject to this Article, is also subject to any applicable: (a) certificate of title statute of this State (G.S. 20-50, G.S. 75A-32 et seq.); (b) certificate of title statute of another jurisdiction (G.S. 25-2A-105); or (c) consumer protection statute of this State, or final consumer […]
§ 25-2A-105 – Territorial application of Article to goods covered by certificate of title.
25-2A-105. Territorial application of Article to goods covered by certificate of title. Subject to the provisions of G.S. 25-2A-304(3) and G.S. 25-2A-305(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 with a certificate of […]
§ 25-2A-106 – Limitation on power of parties to consumer lease to choose applicable law and judicial forum.
25-2A-106. 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 […]
§ 25-2A-107 – Waiver or renunciation of claim or right after default.
25-2A-107. 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. (1993, c. 463, s. 1.)
§ 25-2A-108 – Unconscionability.
25-2A-108. 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, or it may enforce the remainder of the lease contract without the unconscionable clause, […]
§ 25-2A-109 – Option to accelerate at will.
25-2A-109. Option to accelerate at will. (1) A term providing that one party or his successor in interest may accelerate payment or performance or require collateral or additional collateral "at will" or "when he deems himself insecure" or in words of similar import must be construed to mean that he has power to do so […]
§ 25-2A-201 – Statute of frauds.
25-2A-201. Statute of frauds. (1) A lease contract is not enforceable by way of action or defense unless: (a) the total payments to be made under the lease contract, excluding payments for options to renew or buy, are less than one thousand dollars ($1,000); or (b) there is a writing, signed by the party against […]
§ 25-2A-202 – Final written expressionparol or extrinsic evidence.
25-2A-202. Final written expression: parol or extrinsic evidence. Terms with respect to which the confirmatory memoranda of the parties agree or which are otherwise set forth in a writing intended by the parties as a final expression of their agreement with respect to such terms as are included therein may not be contradicted by evidence […]
§ 25-2A-203 – Seals inoperative.
25-2A-203. Seals inoperative. The affixing of a seal to a writing evidencing a lease contract or an offer to enter into a lease contract does not render the writing a sealed instrument and the law with respect to sealed instruments does not apply to the lease contract or offer. (1993, c. 463, s. 1.)
§ 25-2A-204 – Formation in general.
25-2A-204. Formation in general. (1) A lease contract may be made in any manner sufficient to show agreement, including conduct by both parties which recognizes the existence of a lease contract. (2) An agreement sufficient to constitute a lease contract may be found although the moment of its making is undetermined. (3) Although one or […]
§ 25-2A-205 – Firm offers.
25-2A-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 […]
§ 25-2A-206 – Offer and acceptance in formation of lease contract.
25-2A-206. Offer and acceptance in formation of lease contract. (1) Unless otherwise unambiguously indicated by the language or circumstances, an offer to make a lease contract must be construed as inviting acceptance in any manner and by any medium reasonable in the circumstances. (2) If the beginning of a requested performance is a reasonable mode […]
§ 25-2A-208 – Modification, rescission and waiver.
25-2A-208. Modification, rescission and waiver. (1) An agreement modifying a lease contract needs no consideration to be binding. (2) A signed lease agreement that excludes modification or rescission except by a signed writing may not be otherwise modified or rescinded, but, except as between merchants, such a requirement on a form supplied by a merchant […]
§ 25-2A-209 – Lessee under finance lease as beneficiary of supply contract.
25-2A-209. Lessee under finance lease as beneficiary of supply contract. (1) The benefit of a supplier’s promises to the lessor under the supply contract and of all warranties, whether express or implied, including those of any third party provided in connection with or as part of the supply contract, extends to the lessee to the […]
§ 25-2A-210 – Express warranties.
25-2A-210. Express warranties. (1) Express warranties by the lessor are created as follows: (a) any affirmation of fact or promise made by the lessor to the lessee which relates to the goods and becomes part of the basis of the bargain creates an express warranty that the goods will conform to the affirmation or promise. […]
§ 25-2A-211 – Warranties against interference and against infringement; lessee's obligation against infringement.
25-2A-211. Warranties against interference and against infringement; lessee’s obligation against infringement. (1) There is in a lease contract a warranty that for the lease term no person holds a claim to or interest in the goods that arose from an act or omission of the lessor, other than a claim by way of infringement or […]
§ 25-2A-212 – Implied warranty of merchantability.
25-2A-212. Implied warranty of merchantability. (1) Except in a finance lease, a warranty that the goods will be merchantable is implied in a lease contract if the lessor is a merchant with respect to goods of that kind. (2) Goods to be merchantable must be at least such as: (a) pass without objection in the […]