Sec. 42a-2A-714. Liability of third parties for injury to goods. - Connecticut Statutes

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Statutes > Connecticut > Title42a > Art002a > Sec42a-2A-714

      Sec. 42a-2A-714. Liability of third parties for injury to goods. (a) If a third party deals with goods identified to a lease contract and causes actionable injury to the goods, the lessor has a right of action against the third party, and the lessee has a right of action against the third party, if the lessee:

      (1) Has a security interest in the goods;

      (2) Has an insurable interest in the goods; or

      (3) Bears the risk of loss under the lease contract or has, since the injury, assumed such risk as against the lessor and the goods have been converted or destroyed.

      (b) If, at the time of the injury, the 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, any recovery or settlement is subject to the plaintiff's interest as fiduciary for the other party to the lease contract.

      (c) Either party with the consent of the other may maintain an action for the benefit of a concerned party.

      (P.A. 02-131, S. 67.)

State Codes and Statutes

Statutes > Connecticut > Title42a > Art002a > Sec42a-2A-714

      Sec. 42a-2A-714. Liability of third parties for injury to goods. (a) If a third party deals with goods identified to a lease contract and causes actionable injury to the goods, the lessor has a right of action against the third party, and the lessee has a right of action against the third party, if the lessee:

      (1) Has a security interest in the goods;

      (2) Has an insurable interest in the goods; or

      (3) Bears the risk of loss under the lease contract or has, since the injury, assumed such risk as against the lessor and the goods have been converted or destroyed.

      (b) If, at the time of the injury, the 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, any recovery or settlement is subject to the plaintiff's interest as fiduciary for the other party to the lease contract.

      (c) Either party with the consent of the other may maintain an action for the benefit of a concerned party.

      (P.A. 02-131, S. 67.)

State Codes and Statutes

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State Codes and Statutes

Statutes > Connecticut > Title42a > Art002a > Sec42a-2A-714

      Sec. 42a-2A-714. Liability of third parties for injury to goods. (a) If a third party deals with goods identified to a lease contract and causes actionable injury to the goods, the lessor has a right of action against the third party, and the lessee has a right of action against the third party, if the lessee:

      (1) Has a security interest in the goods;

      (2) Has an insurable interest in the goods; or

      (3) Bears the risk of loss under the lease contract or has, since the injury, assumed such risk as against the lessor and the goods have been converted or destroyed.

      (b) If, at the time of the injury, the 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, any recovery or settlement is subject to the plaintiff's interest as fiduciary for the other party to the lease contract.

      (c) Either party with the consent of the other may maintain an action for the benefit of a concerned party.

      (P.A. 02-131, S. 67.)