Idaho State Statutes - Idaho Attorney Directory

(1) A creditor of a lessor in
possession of goods subject to a lease contract may treat the lease contract
as void if as against the creditor retention of possession by the lessor is
fraudulent under any statute or rule of law, but retention of possession in
good faith and current course of trade by the lessor for a commercially
reasonable time after the lease contract becomes enforceable is not
fraudulent.
(2) Nothing in this chapter impairs the rights of creditors of a lessor
if the lease contract (i) becomes enforceable, not in current course of trade
but in satisfaction of or as security for a pre-existing claim for money,
security, or the like, and (ii) is made under circumstances which under any
statute or rule of law apart from this chapter would constitute the
transaction a fraudulent transfer or voidable preference.
(3) A creditor of a seller may treat a sale or an identification of goods
to a contract for sale as void if as against the creditor retention of
possession by the seller is fraudulent under any statute or rule of law, but
retention of possession of the goods pursuant to a lease contract entered into
by the seller as lessee and the buyer as lessor in connection with the sale or
identification of the goods is not fraudulent if the buyer bought for value
and in good faith.

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