Section 28-12-522 – LESSEE’S RIGHT TO GOODS ON LESSOR’S INSOLVENCY.
28-12-522. LESSEE’S RIGHT TO GOODS ON LESSOR’S INSOLVENCY. (1) Subject to the provisions of subsection (2) of this section and even though the goods have not been shipped, a lessee who has paid a part or all of the rent and security for goods identified to a lease contract (section 28-12-217) on making and keeping […]
Section 28-12-523 – LESSOR’S REMEDIES.
28-12-523. LESSOR’S REMEDIES. (1) If a lessee wrongfully rejects or revokes acceptance of goods or fails to make a payment when due or repudiates with respect to a part or the whole, then, with respect to any goods involved, and with respect to all of the goods if under an installment lease contract the value […]
Section 28-12-524 – LESSOR’S RIGHT TO IDENTIFY GOODS TO LEASE CONTRACT.
28-12-524. LESSOR’S RIGHT TO IDENTIFY GOODS TO LEASE CONTRACT. (1) After default by the lessee under the lease contract of the type described in section 28-12-523(1) or section 28-12-523(3)(a) or, if agreed, after other default by the lessee, the lessor may: (a) Identify to the lease contract conforming goods not already identified if at the […]
Section 28-12-525 – LESSOR’S RIGHT TO POSSESSION OF GOODS.
28-12-525. LESSOR’S RIGHT TO POSSESSION OF GOODS. (1) If a lessor discovers the lessee to be insolvent, the lessor may refuse to deliver the goods. (2) After a default by the lessee under the lease contract of the type described in section 28-12-523(1) or 28-12-523(3)(a) or, if agreed, after other default by the lessee, the […]
Section 28-12-526 – LESSOR’S STOPPAGE OF DELIVERY IN TRANSIT OR OTHERWISE.
28-12-526. LESSOR’S STOPPAGE OF DELIVERY IN TRANSIT OR OTHERWISE. (1) A lessor may stop delivery of goods in the possession of a carrier or other bailee if the lessor discovers the lessee to be insolvent and may stop delivery of carload, truckload, planeload or larger shipments of express or freight if the lessee repudiates or […]
Section 28-12-527 – LESSOR’S RIGHTS TO DISPOSE OF GOODS.
28-12-527. LESSOR’S RIGHTS TO DISPOSE OF GOODS. (1) After a default by a lessee under the lease contract of the type described in section 28-12-523(1) or 28-12-523(3)(a) or after the lessor refuses to deliver or takes possession of goods (section 28-12-525 or 28-12-526), or, if agreed, after other default by a lessee, the lessor may […]
Section 28-12-512 – LESSEE’S DUTIES AS TO RIGHTFULLY REJECTED GOODS.
28-12-512. LESSEE’S DUTIES AS TO RIGHTFULLY REJECTED GOODS. (1) Except as otherwise provided with respect to goods that threaten to decline in value speedily (section 28-12-511) and subject to any security interest of a lessee (section 28-12-508(5)): (a) The lessee, after rejection of goods in the lessee’s possession, shall hold them with reasonable care at […]
Section 28-12-404 – SUBSTITUTED PERFORMANCE.
28-12-404. SUBSTITUTED PERFORMANCE. (1) If, without fault of the lessee, the lessor and the supplier, the agreed berthing, loading, or unloading facilities fail or the agreed type of carrier becomes unavailable or the agreed manner of delivery otherwise becomes commercially impracticable, but a commercially reasonable substitute is available, the substitute performance must be tendered and […]
Section 28-12-513 – CURE BY LESSOR OF IMPROPER TENDER OR DELIVERY — REPLACEMENT.
28-12-513. CURE BY LESSOR OF IMPROPER TENDER OR DELIVERY — REPLACEMENT. (1) If any tender or delivery by the lessor or the supplier is rejected because nonconforming and the time for performance has not yet expired, the lessor or the supplier may seasonably notify the lessee of the lessor’s or the supplier’s intention to cure […]
Section 28-12-405 – EXCUSED PERFORMANCE.
28-12-405. EXCUSED PERFORMANCE. Subject to section 28-12-404 on substituted performance, the following rules apply: (1) Delay in delivery or nondelivery in whole or in part by a lessor or a supplier who complies with the provisions of subsections (2) and (3) of this section is not a default under the lease contract if performance as […]