Vermont § 531 - § 2A—531.
Full text of Vermont Vermont Statutes Online § 531 — § 2A—531., with citation guidance and answers to common questions.
§ 531. § 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 or her suit or settlement, subject to his
or her 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. (Added 1993, No. 158 (Adj. Sess.), § 10, eff. Jan. 1, 1995.)
Frequently Asked Questions About Vermont § 531
What does Vermont Statutes Online § 531 cover?
Section 531 ("§ 2A—531.") is part of the Vermont Statutes Online, the codified statutory law of Vermont. 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 Vermont § 531?
A common citation format is "Vermont Statutes Online § 531" (Vermont). 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 Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 531 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont 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 Vermont.