N.Y. Uniform Commercial Code 2-A-515 – Acceptance of Goods

Section 2-A-515. Acceptance of Goods.

Commercial unit: means such a unit of goods as by commercial

usage is a single whole for purposes of lease and division of

which materially impairs its character or value on the market

or in use. See N.Y. Uniform Commercial Code 2-A-103
Goods: means all things that are movable at the time of

identification to the lease contract, or are fixtures

(Section 2-A-309), 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 N.Y. Uniform Commercial Code 2-A-103
Lessee: means a person who acquires the right to possession

and use of goods under a lease. See N.Y. Uniform Commercial Code 2-A-103
Lessor: means a person who transfers the right to possession

and use of goods under a lease. See N.Y. Uniform Commercial Code 2-A-103
Supplier: means a person from whom a lessor buys or leases

goods to be leased under a finance lease. See N.Y. Uniform Commercial Code 2-A-103

(1) Acceptance of goods occurs after the lessee has had a reasonable opportunity to inspect the goods and

(a) the lessee signifies or acts with respect to the goods in a

manner that signifies to the lessor or the supplier that the

goods are conforming or that the lessee will take or retain

them in spite of their nonconformity; or

(b) the lessee fails to make an effective rejection of the goods

(Section 2-A-509 (2)).

(2) Acceptance of a part of any commercial unit is acceptance of that entire unit.

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