---
title: "O.C.G.A. § 11-2A-407. Irrevocable promises: Finance leases."
collection: code
id: 11-2A-407
cite_as: O.C.G.A. § 11-2A-407 (2025)
canonical_url: https://georgiacommons.org/code/11-2A-407
md_url: https://georgiacommons.org/code/11-2A-407.md
text_url: https://georgiacommons.org/code/11-2A-407/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t11-(v9)-2022-pdf.pdf?sfvrsn=b5451bbd_0#page=305
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/11-2A.md
previous: https://georgiacommons.org/code/11-2A-406.md
next: https://georgiacommons.org/code/11-2A-501.md
index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: "COMMERCIAL CODE / LEASES / PERFORMANCE OF LEASE CONTRACT: REPUDIATED, SUBSTITUTED AND EXCUSED"
---

# O.C.G.A. § 11-2A-407. Irrevocable promises: Finance leases.

(1) In the case of a finance lease that is not a consumer lease the lessee’s promises under the lease contract become irrevocable and independent upon the lessee’s acceptance of the goods.

(2) A promise that has become irrevocable and independent under subsection (1):

(a) Is effective and enforceable between the parties, and by or against third parties including assignees of the parties; and

(b) Is not subject to cancellation, termination, modification, repudiation, excuse, or substitution without the consent of the party to whom the promise runs.

(3) This section does not affect the validity under any other law of a covenant in any lease contract making the lessee’s promises irrevocable and independent upon the lessee’s acceptance of the goods.

## History

Code 1981, § 11-2A-407, enacted by Ga. L. 1993, p. 633, § 1.