Pennsylvania § 2A531 Standing to sue third parties for injury to goods

Pennsylvania Statutes

§ 2A531 — Standing to sue third parties for injury to goods

Pennsylvania·Title 13 COMMERCIAL CODE·Ch. 2A5 DEFAULT·Subch. DEFAULT BY LESSEE

(a)General rule.--If a third party so deals with goods that have been identified to a lease contract as to cause actionable injury to a party to the lease contract:

(1)the lessor has a right of action against the third party; and

(2)the lessee also has a right of action against the third party if the lessee:

(i)has a security interest in the goods;

(ii)has an insurable interest in the goods; or

(iii)bears the risk of loss under the lease contract or has since the injury assumed that risk as against the lessor and the goods have been converted or destroyed.

(b)Status of plaintiff as fiduciary.--If at the time of the injury the party plaintiff did not bear the risk of loss as against the other party to the lease contract and there is no arrangement between them for disposition o

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(a) General rule.--If a third party so deals with goods that have been identified to a lease contract as to cause actionable injury to a party to the lease contract:

(1) the lessor has a right of action against the third party; and

(2) the lessee also has a right of action against the third party if the lessee:

(i) has a security interest in the goods;

(ii) has an insurable interest in the goods; or

(iii) bears the risk of loss under the lease contract or has since the injury assumed that risk as against the lessor and the goods have been converted or destroyed.

(b) Status of plaintiff as fiduciary.--If at the time of the injury the party plaintiff did not bear the risk of loss as against the other party to the lease contract and there is no arrangement between them for disposition of the recovery, his suit or settlement, subject to his own interest, is as a fiduciary for the other party to the lease contract.

(c) Consent of parties as to suing.--Either party with the consent of the other may sue for the benefit of whom it may concern.

Pennsylvania § 2A531 (Standing to sue third parties for injury to goods) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.