The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's acts or omissions.
N.H. Rev. Stat. Ann. § 382-A:9-402
Secured Party Not Obligated on Contract of Debtor or in Tort
Known as the Uniform Commercial Code
The act spans §§ 382-A:1-101 to 382-A:9-809 (637 sections).
Applied in 2 court decisions — leading case Perry Hollow Management Company Inc Usa v. A L US
Most recently applied in Yamaha Motor Corp., USA v. Perry Hollow Management Co. (July 2002)
Source. 2001, 102:25, eff
Official source: New Hampshire General Court. Reproduced from public-domain New Hampshire statutes; confirm against the official source for the current text. Not legal advice.