TITLE 28

COMMERCIAL TRANSACTIONS

CHAPTER 12

UNIFORM COMMERCIAL CODE — LEASES

PART 2.

FORMATION AND CONSTRUCTION OF LEASE CONTRACT

28-12-217.  Identification. Identification of goods as goods to which a lease contract refers may be made at any time and in any manner explicitly agreed to by the parties. In the absence of explicit agreement, identification occurs:

(1)  When the lease contract is made, if the lease contract is for a lease of goods that are existing and identified;

(2)  When the goods are shipped, marked or otherwise designated by the lessor as goods to which the lease contract refers, if the lease contract is for a lease of goods that are not existing and identified; or

(3)  When the young are conceived, if the lease contract is for a lease of unborn young of animals.

History:

[28-12-217, added 1993, ch. 287, sec. 1, p. 988.]