Tennessee Code 47-2A-532 – Lessor’s rights to residual interest
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Terms Used In Tennessee Code 47-2A-532
- Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (§. See Tennessee Code 47-2A-103
- Lessee: means a person who acquires the right to possession and use of goods under a lease. See Tennessee Code 47-2A-103
- Lessor: means a person who transfers the right to possession and use of goods under a lease. See Tennessee Code 47-2A-103
In addition to any other recovery permitted by this chapter or other law, the lessor may recover from the lessee an amount that will fully compensate the lessor for any loss of or damage to the lessor’s residual interest in the goods caused by the default of the lessee.