Auto-Renewals and the True Lease Question

Outside of bankruptcy, if the rights of a lessor against a lessee in default are to be enforced, there is a very material difference in the rights and obligations of both parties depending upon whether the UCC Article to be applied is Article 2A governing true leases or Article 9 governing secured transactions.

9 minute read September 01, 2015 at 11:50 AM
By
Robert W. Ihne
Auto-Renewals and the True Lease Question

Whether a transaction called a lease is indeed a lease ' i.e., a true lease ' or instead a lease that creates a security interest is an issue that arises frequently in case law.

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