OCGA § 11-2A-407 Irrevocable Promises: Finance Leases

LibraryCode of Georgia
Edition2023
CurrencyCurrent through 2023-2024 Legislative Session Chapter 353 and 2023 Special Session Chapter 5
Year2023
CitationOCGA § 11-2A-407

(1) 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.

(2) A promise that has become irrevocable and independent under subsection (1):

(a) Is effective and enforceable between the parties, and by or against third parties including assignees of the parties; and

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