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Pennsylvania · Through 2025-12-01 (Statute Update stamp, 13 Pa.C.S.)

13 Pa.C.S. § 2A407: Irrevocable promises: finance leases.

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Where this section sits in the code
  1. Title 13 - COMMERCIAL CODE
  2. CHAPTER 2A4 PERFORMANCE OF LEASE CONTRACT: REPUDIATED, SUBSTITUTED AND EXCUSED

(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.

Collected 2026-09-02T16:31:03Z. Source file · JSON

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