Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

merchant lessee

Read a random definition: discovert

A quick definition of merchant lessee:

A merchant lessee is someone who rents or leases goods that are similar to the ones they sell in their business. They are a type of tenant who has a legal right to possess and use the property they are leasing. The term "lessee" refers to anyone who has a lease or rental agreement for real or personal property. This means that a merchant lessee is a tenant who is also a business owner and rents goods for their business needs.

A more thorough explanation:

A merchant lessee is a person who leases goods in the ordinary course of business from a person who sells or leases goods of that kind. This person must do so in good faith and without knowledge that the lease is in violation of a third party's ownership rights, security interest, or leasehold interest. The definition excludes pawnbrokers.

For example, if a car dealership leases a car from another dealership to use as a loaner car for customers, they would be considered a merchant lessee because they are in the business of selling and leasing cars and are leasing a car in the ordinary course of business.

Another example would be a restaurant leasing kitchen equipment from a supplier. Since the restaurant is in the business of preparing and serving food, and the supplier is in the business of selling or leasing kitchen equipment, the restaurant would be considered a merchant lessee.

merchant exception | merchantman

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
matt gaetz ethics report released
paid for sex with a junior in high school
guarantee people still defend him
BulbasaurNoLikeCardio
9:51
I only read headlines and skimmed a random article of it since I am the only one at work this week. Seems like he is Republican Hunter Biden but not at the paying rent with poop paintings stage
ImpartialLion
9:55
Sent in my transcript at 6 am today and it’s processing. Think it will be processed before lsac closes tmrw?
BulbasaurNoLikeCardio
9:58
I would say it is a toss up, for how much LSAC charges us for everything they are extremely efficient in processing and sending stuff out BUT with a 30% uptake in applicants and the holidays it may be significantly slower unless it is ran through and processed by a computer program. Even if it takes them longer to process it, not like there is anyone at a school to request and review it after LSAC does their thing
Do we know if any of the t14 open at all this week
just called Fordham. they said there will be decisions going out today
so congratulations on pre xmas waves
BulbasaurNoLikeCardio
10:27
Hope schools are chill and just send As leaving the Rs for next month lol
soap
10:49
Fingers crossed for good luck today
BulbasaurNoLikeCardio
10:56
@soap: really hoping to get that UTK call today
11:08
what if instead of a room of one’s own virgina Woolf wrote a cubicle of one’s own
UGA ED deferrals are coming out rn
LSD+ is ad-free, with DMs, discounts, case briefs & more.