2012 Pennsylvania Consolidated Statutes
Title 13 - COMMERCIAL CODE
Chapter 2A4 - Performance of Lease Contract: Repudiated, Substituted and Excused
Section 2A407 - Irrevocable promises: finance leases

     § 2A407.  Irrevocable promises: finance leases.
        (a)  General rule.--In the case of a finance lease that is
     not a consumer lease, the lessee's promises under the lease
     contract become irrevocable and independent upon the lessee's
     acceptance of the goods.
        (b)  Effect of irrevocable and independent promise.--A
     promise that has become irrevocable and independent under
     subsection (a):
            (1)  is effective and enforceable between the parties,
        and by or against third parties including assignees of the
        parties; and
            (2)  is not subject to cancellation, termination,
        modification, repudiation, excuse or substitution without the
        consent of the party to whom the promise runs.
        (c)  Limitation on applicability of section.--This section
     does not affect the validity under any other law of a covenant
     in any lease contract making the lessee's promises irrevocable
     and independent upon the lessee's acceptance of the goods.

        Cross References.  Section 2A407 is referred to in section
     2A508 of this title.