U C Leasing, Inc. v. Laughlin

OPINION

By the Court,

Batjer, J.:

Appellant and respondent entered into a contract in which appellant purported to “lease” respondent an airplane. When respondent defaulted in the monthly payments required by the contract, appellant repossessed the plane, which was later sold. Appellant brought suit seeking the difference between the *159money due under the contract and the proceeds received from the sale. In denying relief, the district court held the contract to be a lease intended for security subject to the Uniform Commercial Code — Secured Transactions (NRS 104.901-104.9507, inclusive), and,…