Sec. 45.12.531. Standing to sue third parties for injury to goods.
(a) If a third party so deals with goods that have been identified to a lease contract as to cause actionable injury to a party to the lease contract (1) the lessor has a right of action against the third party; and (2) the lessee also has a right of action against the third party […]
Sec. 45.12.532. Lessor’s rights regarding residual interest.
In addition to any other recovery permitted by this chapter or other law, the lessor may recover from the lessee an amount that will fully compensate the lessor for any loss of or damage to the lessor’s residual interest in the goods caused by the default of the lessee.
Sec. 45.12.517. Revocation of acceptance of goods.
(a) A lessee may revoke acceptance of a lot or commercial unit whose nonconformity substantially impairs its value to the lessee if the lessee has accepted it, (1) except in the case of a finance lease, on the reasonable assumption that its nonconformity would be cured and it has not been seasonably cured; or (2) […]
Sec. 45.12.518. Cover; substitute goods.
(a) After a default, by a lessor under the lease contract, of the type described in AS 45.12.508(a), or, if agreed, after other default by the lessor, the lessee may cover by making a purchase or lease of or contract to purchase or lease goods in substitution for those due from the lessor. (b) Except […]
Sec. 45.12.519. Lessee’s damages for nondelivery, repudiation, default, and breach of warranty in regard to accepted goods.
(a) Except as otherwise provided under AS 45.12.504 with respect to damages liquidated in the lease agreement or otherwise determined under agreement of the parties under AS 45.01.302 and AS 45.12.503, if a lessee elects not to cover or a lessee elects to cover and the cover is by lease agreement that for any reason […]
Sec. 45.12.520. Lessee’s incidental and consequential damages.
(a) Incidental damages resulting from a lessor’s default include expenses reasonably incurred in inspection, receipt, transportation, and care and custody of goods rightfully rejected or goods the acceptance of which is justifiably revoked, any commercially reasonable charges, expenses, or commissions in connection with effecting cover, and any other reasonable expense incident to the default. (b) […]
Sec. 45.12.505. Cancellation and termination, and effect of cancellation, termination, rescission, or fraud on rights and remedies.
(a) On cancellation of the lease contract, all obligations that are still executory on both sides are discharged, but any right based on prior default or performance survives, and the canceling party also retains a remedy for default of the whole lease contract or an unperformed balance. (b) On termination of the lease contract, all […]
Sec. 45.12.506. Statute of limitations.
(a) An action for default under a lease contract, including breach of warranty or indemnity, must be commenced within four years after the cause of action accrued. By the original lease contract the parties may reduce the period of limitation to not less than one year. (b) A cause of action for default accrues when […]
Sec. 45.12.507. Proof of market rent: time and place.
(a) Damages based on market rent under AS 45.12.519 or 45.12.528 are determined according to the rent for the use of the goods concerned for a lease term identical to the remaining lease term of the original lease agreement and prevailing at the times specified in AS 45.12.519 or 45.12.528, as appropriate. (b) If evidence […]
Sec. 45.12.508. Lessee’s remedies.
(a) If a lessor fails to deliver the goods in conformity with the lease contract (AS 45.12.509) or repudiates the lease contract (AS 45.12.402), or a lessee rightfully rejects the goods (AS 45.12.509) or justifiably revokes acceptance of the goods under AS 45.12.517, then with respect to the goods involved, and with respect to all […]