(a) This Article applies to any transaction, regardless of form, that creates a lease and, in the case of a hybrid lease, it applies to the extent provided in subsection (b) of this section. (b) In a hybrid lease, both of the following apply: (1) If the lease-of-goods aspects do not predominate, all of the following apply: a. Only the provisions of this Article that relate primarily to the lease-of-goods aspects of the transaction apply, and the provisions of this Article that relate primarily to the transaction as a whole do not apply. b. G.S. 25-2A-209 applies if the lease is a finance lease. c. G.S. 25-2A-407 applies to the promises of the lessee in a finance lease to the extent the promises are consideration for the right to possession and use of the leased goods. (2) If the lease-of-goods aspects predominate, this Article applies to the transaction but does not preclude application in appropriate circumstances of other law to aspects of the lease that do not relate to the lease of goods.
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