The affixing of a seal to a writing evidencing a lease contract or an offer to enter into a lease contract does not render the writing a sealed instrument and the law with respect to sealed instruments does not apply to the lease contract or offer.
History: 1978 Comp., § 55-2A-203, enacted by Laws 1992, ch. 114, § 19.
OFFICIAL COMMENTS
UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.
Uniform Statutory Source. — Section 2-203 [55-2-203 NMSA 1978].
Changes. — Revised to reflect leasing practices and terminology.
"Lease contract". Section 2A-103(1)(l) [55-2A-103 NMSA 1978].
"Writing". Section 1-201(46) [55-1-201 NMSA 1978].
Effective dates. — Laws 1992, ch. 114, § 238 made Laws 1992, ch. 114, § 19 effective July 1, 1992.
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