§ 25-2A-531. Standing to sue third parties for injury to goods. - North Carolina Statutes

§25‑2A‑531.  Standing to sue third parties for injury to goods.

(1)        If a third party sodeals with goods that have been identified to a lease contract as to causeactionable injury to a party to the lease contract then (a) the lessor has aright of action against the third party, and (b) the lessee also has a right ofaction against the third party if the lessee:

(i)         has a securityinterest in the goods;

(ii)        has an insurableinterest in the goods; or

(iii)       bears the risk ofloss under the lease contract or has since the injury assumed that risk asagainst the lessor and the goods have been converted or destroyed.

(2)        If at the time ofthe injury the party plaintiff did not bear the risk of loss as against theother party to the lease contract and there is no arrangement between them fordisposition of the recovery, his suit or settlement, subject to his owninterest, is as a fiduciary for the other party to the lease contract.

(3)        Either party, withthe consent of the other, may sue for the benefit of whom it may concern. (1993,c. 463, s. 1.)