§ 2A.101 Short Title
§ 2A.102 Scope
§ 2A.103 Definitions and Index of Definitions
§ 2A.104 Leases Subject to Other Laws
§ 2A.105 Territorial Application of Chapter to Goods Covered by Certificate of Title
§ 2A.106 Limitation On Power of Parties to Consumer Lease to Choose Applicable Law and Judicial Forum
§ 2A.107 Waiver or Renunciation of Claim or Right After Default
§ 2A.108 Unconscionability
§ 2A.109 Option to Accelerate At Will

Terms Used In Texas Business and Commerce Code Chapter 2A > Subchapter A

  • Commercial unit: means 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 Texas Business and Commerce Code 2A.103
  • Consumer lease: means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is an individual and who takes under the lease primarily for a personal, family, or household purpose, if the total payments to be made under the lease contract, excluding payments for options to renew or buy, do not exceed $25,000. See Texas Business and Commerce Code 2A.103
  • Finance lease: means a lease with respect to which:
    (A) the lessor does not select, manufacture, or supply the goods;
    (B) the lessor acquires the goods or the right to possession and use of the goods in connection with the lease; and
    (C) one of the following occurs:
    (i) the lessee receives a copy of the contract by which the lessor acquired the goods or the right to possession and use of the goods before signing the lease contract;
    (ii) the lessee's approval of the contract by which the lessor acquired the goods or the right to possession and use of the goods is a condition to effectiveness of the lease contract;
    (iii) the lessee, before signing the lease contract, receives an accurate and complete statement designating the promises and warranties, and any disclaimers of warranties, limitations or modifications of remedies, or liquidated damages, including those of a third party, such as the manufacturer of the goods, provided to the lessor by the person supplying the goods in connection with or as part of the contract by which the lessor acquired the goods or the right to possession and use of the goods; or
    (iv) if the lease is not a consumer lease, the lessor, before the lessee signs the lease contract, informs the lessee in writing (a) of the identity of the person supplying the goods to the lessor, unless the lessee has selected that person and directed the lessor to acquire the goods or the right to possession and use of the goods from that person, (b) that the lessee is entitled under this chapter to the promises and warranties, including those of any third party, provided to the lessor by the person supplying the goods in connection with or as part of the contract by which the lessor acquired the goods or the right to possession and use of the goods, and (c) that the lessee may communicate with the person supplying the goods to the lessor and receive an accurate and complete statement of those promises and warranties, including any disclaimers and limitations of them or of remedies. See Texas Business and Commerce Code 2A.103
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Goods: means all things that are moveable at the time of identification to the lease contract, or are fixtures (Section Texas Business and Commerce Code 2A.103
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • 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 Texas Business and Commerce Code 2A.103
  • 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 by this chapter. See Texas Business and Commerce Code 2A.103
  • Lease contract: means the total legal obligation that results from the lease agreement as affected by this chapter and any other applicable rules of law. See Texas Business and Commerce Code 2A.103
  • Leasehold interest: means the interest of the lessor or the lessee under a lease contract. See Texas Business and Commerce Code 2A.103
  • Lessee: means a person who acquires the right to possession and use of goods under a lease. See Texas Business and Commerce Code 2A.103
  • Lessor: means a person who transfers the right to possession and use of goods under a lease. See Texas Business and Commerce Code 2A.103
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Probate: Proving a will
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
  • Sublease: means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease. See Texas Business and Commerce Code 2A.103