lessee (le-see). One who has a possessory interest in real or personal property under a lease; TENANT. [Cases: Bailment 1; Landlord and Tenant 1. C.J.S. Bailments §§ 2–13, 15, 19, 22–24, 31; Landlord and Tenant§§ 1, 2(1, 2), 6(1), 7, 202(5).]
lessee in the ordinary course of business.A person that, in good faith and without knowledge that the lease is in violation of a third party’s ownership rights, security interest, or leasehold interest, leases in the ordinary course from a person in the business of selling or leasing goods of that kind. UCC § 2A-103(o). • The UCC specifically excludes pawnbrokers from the definition.
merchant lessee.A lessee who is a merchant of goods similar to those being leased. UCC § 2A-103(t).
[Blacks Law 8th]