California Commercial Code

§ 10407

COM § 10407 Effective Jul 15, 1991Div. 10 · Ch. 4

Statute text

(a)In the case of a finance lease that is not a consumer lease the lessee’s promises under the lease contract become irrevocable and independent upon the lessee’s acceptance of the goods.

(b)A promise that has become irrevocable and independent under subdivision (a):

(1)Is effective and enforceable between the parties, and by or against third parties including assignees of the parties; and

…

Legislative history

Amended by Stats. 1991, Ch. 111, Sec. 39. Effective July 15, 1991.