Texas Business & Commerce Code

§ 2A.531 — STANDING TO SUE THIRD PARTIES FOR INJURY TO GOODS

BC § 2A.531Title 1. UNIFORM COMMERCIAL CODE · Ch. 2A. LEASES · Art. E. DEFAULT

Statute text

(a)If a third party so deals with goods that have been identified to a lease contract as to cause actionable injury to a party to the lease contract:

(1)the lessor has a right of action against the third party; and

(2)the lessee also has a right of action against the third party if the lessee:

(A)has a security interest in the goods;

(B)has an insurable interest in the goods;

(C)bears the risk of loss under the lease contract or has since the injury assumed that risk as against the lessor and the goods have been converted or destroyed.

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Legislative history

Added by Acts 1993, 73rd Leg., ch. 570, Sec. 1, eff. Sept. 1, 1993.