The number of significant cases involving personal property leasing has increased rapidly over the past few years. Knowledge of basic contracts or sales law has proven to be insufficient in such cases; a solid understanding of Article 2A is required. For example, the common law topics of liquidated damages,[1] product liability,[2] usage of trade,[3] damages,[4] finance leases,[5] remedies,[6] and warranties[7] are covered by Article 2A. Both lessors and lessees must understand these variations when creating or litigating personal property leases.

The Law of Leasing Under UCC Article 2A, authored by John Parker Huggard, provides expert guidance and practical know-how for attorneys working in this burgeoning area of the law with the goal of being an understandable guide and go-to reference.

The treatise discusses each section of Article 2A as it applies to the leasing of personal property. It includes numerous examples and sample problems as well as solutions to give context and clarity to the more difficult provisions. The book also covers the Consumer Leases Act and the Magnuson-Moss Warranty Act in detail.

β€œIn teaching commercial law for three decades, I became frustrated with books that discussed only 80 percent of a U.C.C. code section such as negotiable instruments, sales or secured transactions,” said Huggard. β€œThe 20 percent that was omitted often proved to be the more difficult topics that users needed for clarification. The Law of Leasing Under U.C.C. Article 2A covers 100 percent of the sections set out in Article 2A and provides clarifying examples for the more difficult concepts.”

About the author: John Parker Huggard has been a professor of commercial law for 30 years at North Carolina State University and is the senior member of the law firm of Huggard, Obiol & Blake, PLLC.

 

[1] In re Republic Airways Holdings Inc., 598 B.R. 118, 98 U.C.C. Rep. Serv. 2d 1 (Bankr. S.D. N.Y. 2019).

[2] Funches v. Progressive Tractor and Implement Company, L.C.C., 905 F.3d 846, Prod. Liab. Rep. (CCH) P 20458 (5th Cir. 2018), as revised, (Oct. 8, 2018).

[3] Service Pump & Supply Co., Inc. v. Sun Industries, LLC, 2019 WL 2179232 (S.D. W. Va. 2019).

[4] H.E.D. Inc. v. Konica Minolta Business Solutions U.S.A. Inc., 93 U.C.C. Rep. Serv. 2d 1146 (N.D. Ind. 2017).

[5] Xerox Corporation v. JCTB Incorporated, 97 U.C.C. Rep. Serv. 2d 145 (W.D. N.Y. 2018).

[6] CIT Finance LLC v. Treon, Aguirre, Newman & Norris PA, 91 U.C.C. Rep. Serv. 2d 106 (D. Ariz. 2016).

[7] Hitachi Data Systems Credit Corporation v. Precision Discovery, Inc., 331 F. Supp. 3d 130 (S.D. N.Y. 2018).