What types of leases does Article 2A specifically address?

Article 2A of the Uniform Commercial Code (UCC) specifically addresses true leases. A true lease is characterized by the lessor retaining significant ownership rights over the leased property, while the lessee merely has the right to use the property for a specified term in exchange for rent. The legal requirements and protections outlined in Article 2A support this type of leasing arrangement, which distinguishes it from other forms of transactions such as finance leases or secured loans.

In contrast, finance leases can involve more complexity, often where the lessor provides financing to facilitate the lessee's purchase of the equipment rather than a straightforward lease arrangement. Secured loans, on the other hand, involve borrowing and using the equipment as collateral, which falls outside the leasing framework that Article 2A governs. Operating leases, while similar to true leases in some respects, are not specifically highlighted within Article 2A as a distinct category with different legal implications.

Thus, by focusing on true leases, Article 2A provides a clear framework for understanding and regulating the rights and obligations of parties involved in leasing transactions that do not seek to convey ownership, aligning with the nature and intent of a true lease.