The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 2A-531)
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§ 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.)