§ 6A-2.1-531 - Standing to sue third parties for injury to goods.
SECTION 6A-2.1-531
§ 6A-2.1-531 Standing to sue third partiesfor injury to goods. – (1) If a third party so deals with goods that have been identified to a leasecontract as to cause actionable injury to a party to the lease contract (a) thelessor has a right of action against the third party, and (b) the lessee alsohas 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 hassince the injury assumed that risk as against the lessor and the goods havebeen converted or destroyed.
(2) If at the time of the injury the party plaintiff did notbear the risk of loss as against the other party to the lease contract andthere is no arrangement between them for disposition of the recovery, his orher suit or settlement, subject to his or her own interest, is as a fiduciaryfor the other party to the lease contract.
(3) Either party with the consent of the other may sue forthe benefit of whom it may concern.