§ 336.2A-102 — Scope
Plain-Language Summary
Article 2A applies to any transaction that creates a lease of goods, no matter what form the deal takes. For a hybrid lease (one that mixes a lease of goods with other elements), Article 2A applies fully when the lease-of-goods part predominates. When the lease-of-goods part does not predominate, only the provisions tied to the lease-of-goods aspects apply, with specific rules in sections 336.2A-209 and 336.2A-407 governing finance leases.
336.2A-102 SCOPE.
(1) This article applies to any transaction, regardless of form, that creates a lease and, in the case of a hybrid lease, it applies to the extent provided in subsection (2).
(2) In a hybrid lease:
(a) if the lease-of-goods aspects do not predominate:
(i) only the provisions of this article which relate primarily to the lease-of-goods aspects of the transaction apply, and the provisions that relate primarily to the transaction as a whole do not apply;
(ii) section 336.2A-209 applies if the lease is a finance lease; and
(iii) section 336.2A-407 applies to the promises of the lessee in a finance lease to the extent the promises are consideration for the right to possession and use of the leased goods; and
(b) if the lease-of-goods aspects predominate, this article applies to the transaction, but does not preclude application in appropriate circumstances of other law to aspects of the lease which do not relate to the lease of goods.
History:
1989 c 232 art 1 s 2A-102; 2024 c 93 art 3 s 1
History: History: 1989 c 232 art 1 s 2A-102; 2024 c 93 art 3 s 1