2006 Ohio Revised Code - 1310.78. (UCC 2A-532) Lessor\'s compensation for loss of or damage to residual interest.
§ 1310.78. (UCC 2A-532) Lessor's compensation for loss of or damage to residual interest.
In addition to any other recovery permitted by
sections 1310.01 to
1310.78 of the Revised Code 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.
HISTORY: 144 v H 693. Eff 11-6-92.
Official Comment
This section recognizes the right of the lessor to recover under this Chapter (as well as under other law) from the lessee for failure to comply with the lease obligations as to the condition of leased goods when returned to the lessor, for failure to return the goods at the end of the lease, or for any other default which causes loss or injury to the lessor's residual interest in the goods.
Disclaimer: These codes may not be the most recent version. Ohio may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
