§ 351. Supplementary general principles of law applicable. Unless displaced by the particular provisions of this article, other statutes of this state applicable to personal property leases and the principles of law and equity, including the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, bankruptcy, or other validating or invalidating cause supplement its provisions. In the event of an inconsistency between another statute of this state applicable to personal property leases and this article, the provisions of this article shall control.

Terms Used In N.Y. Personal Property Law 351

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Contract: A legal written agreement that becomes binding when signed.
  • Fraud: Intentional deception resulting in injury to another.
  • Personal property: All property that is not real property.
  • Statute: A law passed by a legislature.
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