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 […]
Section 28-12-514 – WAIVER OF LESSEE’S OBJECTIONS.
28-12-514. WAIVER OF LESSEE’S OBJECTIONS. (1) In rejecting goods, a lessee’s failure to state a particular defect that is ascertainable by reasonable inspection precludes the lessee from relying on the defect to justify rejection or to establish default: (a) If, stated seasonably, the lessor or the supplier could have cured it (section 28-12-513); or (b) […]
Section 28-12-406 – PROCEDURE ON EXCUSED PERFORMANCE.
28-12-406. PROCEDURE ON EXCUSED PERFORMANCE. (1) If the lessee receives notification of a material or indefinite delay or an allocation justified under the provisions of section 28-12-405, the lessee may by written notification to the lessor as to any goods involved, and with respect to all of the goods if under an installment lease contract […]
Section 28-12-515 – ACCEPTANCE OF GOODS.
28-12-515. ACCEPTANCE OF GOODS. (1) Acceptance of goods occurs after the lessee has had a reasonable opportunity to inspect the goods and: (a) The lessee signifies or acts with respect to the goods in a manner that signifies to the lessor or the supplier that the goods are conforming or that the lessee will take […]
Section 28-12-302 – TITLE TO AND POSSESSION OF GOODS.
28-12-302. TITLE TO AND POSSESSION OF GOODS. Except as otherwise provided in this chapter, each provision of this chapter applies whether the lessor or a third party has title to the goods, and whether the lessor, the lessee, or a third party has possession of the goods, notwithstanding any statute or rule of law that […]
Section 28-12-303 – ALIENABILITY OF PARTY’S INTEREST UNDER LEASE CONTRACT OR OF LESSOR’S RESIDUAL INTEREST IN GOODS — DELEGATION OF PERFORMANCE — TRANSFER OF RIGHTS.
TITLE 28 COMMERCIAL TRANSACTIONS CHAPTER 12 UNIFORM COMMERCIAL CODE — LEASES PART 3. EFFECT OF LEASE CONTRACT 28-12-303. Alienability of party’s interest under lease contract or of lessor’s residual interest in goods — Delegation of performance — Transfer of rights. (1) As used in this section, “creation of a security interest” includes the sale of a lease […]
Section 28-12-304 – SUBSEQUENT LEASE OF GOODS BY LESSOR.
28-12-304. SUBSEQUENT LEASE OF GOODS BY LESSOR. (1) Subject to section 28-12-303, a subsequent lessee from a lessor of goods under an existing lease contract obtains, to the extent of the leasehold interest transferred, the leasehold interest in the goods that the lessor had or had power to transfer, and except as provided in subsection […]
Section 28-12-305 – SALE OR SUBLEASE OF GOODS BY LESSEE.
28-12-305. SALE OR SUBLEASE OF GOODS BY LESSEE. (1) Subject to the provisions of section 28-12-303, a buyer or sublessee from the lessee of goods under an existing lease contract obtains, to the extent of the interest transferred, the leasehold interest in the goods that the lessee had or had power to transfer, and except […]