104A.2531 - Standing to sue third parties for injury to goods.
104A.2531 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:
(1) Has a security interest in the goods;
(2) Has an insurable interest in the goods; or
(3) 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, the party plaintiff’s 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 to NRS by 1989, 369; A 1989, 721)
NRS 104A.2532 Lessor’s rights to residual interest. In addition to any other recovery permitted by this article or other law, the lessor may recover from the lessee an amount that will fully compensate the lessor for any loss of or damage to the lessor’s residual interest in the goods caused by the default of the lessee.
(Added to NRS by 1991, 430)