(a) This chapter shall apply to all leases entered into on or after July 1, 1994. For purposes of this section:

Terms Used In Tennessee Code 47-2A-111

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Lease: means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See Tennessee Code 47-2A-103
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lease agreement: means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this chapter. See Tennessee Code 47-2A-103
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(1) Leases that are materially modified or amended in writing on or after July 1, 1994, shall be deemed to have been entered into as of the date of such amendment unless the amendment expressly states otherwise;
(2) Each separate schedule or supplement evidencing the leasing of additional items under a master lease agreement shall be deemed to be a separate lease; and
(3) A modification or amendment to a master lease agreement shall apply to all schedules or supplements thereto unless expressly or manifestly applicable to fewer than all.
(b) This chapter may be used for guidance in construing leases entered into before July 1, 1994, to the extent that it is not inconsistent with the law of this state existing prior to July 1, 1994.
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