Mississippi Lease of Equipment with Lessee to Pay all Taxes Imposed Relating to Equipment
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Description
According to Article 2A of the Uniform Commercial Code, personal property leases requiring total payments of $1,000 or more are not enforceable unless there is a writing, signed either by the party against whom enforcement is sought or by that party's authorized agent. The writing must sufficiently indicate that a lease contract has been made between the parties, and must contain a description of the goods leased, and the term of the lease. A description of the goods to be leased or the lease term is sufficient if it reasonably identifies what is described.
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