Section 66 Article 9

• Library: Motor Vehicle 2011

The same factors must be considered in determining whether the lease is actually a security agreement under § 400.9-102 of Article 9, §§ 400.9-101–400.9-710, RSMo Supp. 2010, of the MUCC. Lendal Leasing, Ltd. v. Farmers Wayside Stores, Inc., 720 S.W.2d 376 (Mo. App. E.D. 1986). If the lease can be made out to be a sale and security agreement, the typical default provisions appearing in automobile leases will be a violation of the Article 9 provisions of the MUCC.

For example, if a lessee defaults in payment...