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Georgia State Code
Title      11
Chapter      2A  
Section Navigation   101 ... 201       202 ... 211   
   212 ... 221       301 ... 310   
   311 ... 502       503 ... 512   
   513 ... 522         523 ... 532     
Section<<< 523 524 525 526 527 528 529 530 531 532  
Title 11, Chapter 2A, Section 531 (11-2A-531)
Standing to sue third parties for injury to goods.

(1) 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 (a) the lessor has a right of action against the third party, and (b) 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.

(2) 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.

(3) Either party with the consent of the other may sue for the benefit of whom it may concern.

Sunday May 24 14:18 EDT


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