Com. Code, § 10407 · Chapter 4. Performance of Leased Contract: Repudiated, Substituted, and Excused
Com. Code, § 10407
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) 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.
(b) A promise that has become irrevocable and independent under subdivision (a):
(1) Is effective and enforceable between the parties, and by or against third parties including assignees of the parties; and
(2) Is not subject to cancellation, termination, modification, repudiation, excuse, or substitution without the consent of the party to whom the promise runs.
(c) 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.
Notes and commentary — not statutory text
History
Amended by Stats. 1991, Ch. 111, Sec. 39. Effective July 15, 1991.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=COM§ionNum=10407.
- Text hash
- sha256 0cc916623041afc921757ab691b6b98c2f0a2e0b80ab39140d7667c2e5ceb767
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Cited by 2 provisions
Provisions in this library whose text cites Com. Code, § 10407. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.