Except as otherwise provided in this division, each provision of this division applies whether the lessor or a third party has title to the goods, and whether the lessor, the lessee, or a third party has possession of the goods, notwithstanding any statute or rule of law that possession or the absence of possession is fraudulent.

(Added by Stats. 1988, Ch. 1359, Sec. 5. Operative January 1, 1990, by Sec. 11 of Ch. 1359.)

Terms Used In California Commercial Code 10302

  • Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (Section 10309), but the term does not include money, documents, instruments, accounts, chattel paper, general intangibles, or minerals or the like, including oil and gas, before extraction. See California Commercial Code 10103
  • Lessee: means a person who acquires the right to possession and use of goods under a lease. See California Commercial Code 10103
  • Lessor: means a person who transfers the right to possession and use of goods under a lease. See California Commercial Code 10103
  • Statute: A law passed by a legislature.
  • third party: means a person that has engaged in a transaction or made an agreement subject to this code. See California Commercial Code 1201
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