Section 2A-518 – Cover; Substitute Goods
(1) After a default by a lessor under the lease contract of the type described in § 2A-508(1), or, if agreed, after other default by the lessor, the lessee may cover by making any purchase or lease of or contract to purchase or lease goods in substitution for those due from the lessor. (2) Except as otherwise […]
Section 2A-503 – Modification or Impairment of Rights and Remedies
(1) Except as otherwise provided in this title, the lease agreement may include rights and remedies for default in addition to or in substitution for those provided in this title and may limit or alter the measure of damages recoverable under this title. (2) Resort to a remedy provided under this title or in the lease agreement […]
Section 2A-519 – Lessee’s Damages for Nondelivery, Repudiation, Default, and Breach of Warranty in Regard to Accepted Goods
(1) Except as otherwise provided with respect to damages liquidated in the lease agreement (§ 2A–504) or otherwise determined pursuant to agreement of the parties (§§ 1–302 and 2A–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 does not qualify […]
Section 2A-306 – Priority of Certain Liens Arising by Operation of Law
If a person in the ordinary course of his business furnishes services or materials with respect to goods subject to a lease contract, a lien upon those goods in the possession of that person given by statute or rule of law for those materials or services is enforceable and takes priority over any interest of […]
Section 2A-307 – Priority of Liens Arising by Attachment or Levy On, Security Interests In, and Other Claims to Goods
(1) Except as otherwise provided in § 2A-306, a creditor of a lessee takes subject to the lease contract. (2) Except as otherwise provided in subsection (3) of this section and in §§ 2A-306 and 2A-308, a creditor of a lessor takes subject to the lease contract unless the creditor holds a lien that attached to the […]
Section 2A-308 – Special Rights of Creditors
(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 or voids the lease contract under any statute or rule of law, but retention of possession in good faith and current […]
Section 2A-309 – Lessor’s and Lessee’s Rights When Goods Become Fixtures
(1) In this section: (a) Goods are “fixtures” when they become so related to particular real estate that an interest in them arises under real estate law; (b) A “fixture filing” is the filing, in the office where a record of a mortgage on the real estate would be filed or recorded, of a financing statement covering goods […]
Section 2A-310 – Lessor’s and Lessee’s Rights When Goods Become Accessions
(1) Goods are “accessions” when they are installed in or affixed to other goods. (2) The interest of a lessor or a lessee under a lease contract entered into before the goods became accessions is superior to all interests in the whole except as stated in subsection (4). (3) The interest of a lessor or a lessee under […]
Section 2A-311 – Priority Subject to Subordination
Nothing in this title prevents subordination by agreement by any person entitled to priority.
Section 2A-401 – Insecurity: Adequate Assurance of Performance
(1) A lease contract imposes an obligation on each party that the other’s expectation of receiving due performance will not be impaired. (2) If reasonable grounds for insecurity arise with respect to the performance of either party, the insecure party may demand in writing adequate assurance of due performance. Until the insecure party receives that assurance, if […]