Colorado § 4-2.5-407 - Irrevocable promises: Finance leases.
Full text of Colorado Colorado Revised Statutes § 4-2.5-407 — Irrevocable promises: Finance leases., with citation guidance and answers to common questions.
§ 4-2.5-407. Irrevocable promises: Finance leases.
(1) 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.
(2) A promise that has become irrevocable and independent under subsection (1) of this section:
(a) Is effective and enforceable between the parties, by or against third parties including assignees of the parties; and
(b) Is not subject to cancellation, termination, modification, repudiation, excuse, or substitution without the consent of the party to whom the promise runs.
(3) 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.
Source: L. 91: Entire article added, p. 300, § 1, effective July 1, 1992.
PART 5
DEFAULT
SUBPART A
IN GENERAL
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 4-2.5-407
What does Colorado Revised Statutes § 4-2.5-407 cover?
Section 4-2.5-407 ("Irrevocable promises: Finance leases.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 4-2.5-407?
A common citation format is "Colorado Revised Statutes § 4-2.5-407" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 4-2.5-407 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.