400.2A-531. Standing to sue third parties for injury to goods. - Missouri Statutes

Standing to sue third parties for injury to goods.

400.2A-531. (1) If a third party so deals with goods thathave been identified to a lease contract as to cause actionableinjury to a party to the lease contract (a) the lessor has aright of action against the third party, and (b) the lessee alsohas a right of action against the third party if the lessee:

(i) has a security interest in the goods;

(ii) has an insurable interest in the goods; or

(iii) bears the risk of loss under the lease contract orhas since the injury assumed that risk as against the lessor andthe goods have been converted or destroyed.

(2) If at the time of the injury the party plaintiff didnot bear the risk of loss as against the other party to the leasecontract and there is no arrangement between them for dispositionof the recovery, his suit or settlement, subject to his owninterest, is as a fiduciary for the other party to the leasecontract.

(3) Either party with the consent of the other may sue forthe benefit of whom it may concern.

(L. 1992 S.B. 448)