The ABCs of the UCC Article 2A

Article 2A was added to the Uniform Commercial Code in 1987 to assist practitioners and judges in interpreting leases of goods. This guide will give attorneys for lessors and lessees, as well as third parties such as lenders and equipment suppliers who are involved with lease transactions a good intro to Article 2A.

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Leases of goods have existed for centuries, but until Article 2A was added to the Uniform Commercial Code in 1987, there was no coherent body of law to assist practitioners and judges in interpreting these contracts. Many practitioners are unaware of this major addition to the Code and how it affects transactions such as leases of aircraft or other categories of capital equipment. This guide will give attorneys for lessors and lessees, as well as third parties such as lenders and equipment suppliers who are involved with lease transactions a concise, readable introduction to Article 2A.