Section 2A-510 – Installment Lease Contracts Rejection and Default
(1) Under an installment lease agreement, a lessee may reject any delivery that is nonconforming if the nonconformity substantially impairs the value of that delivery and cannot be cured or the nonconformity is a defect in the required documents; but if the nonconformity does not fall within subsection (2) and the lessor or the supplier gives […]
Section 2A-511 – Merchant Lessee’s Duties as to Rightfully Rejected Goods
(1) If a lessor or a supplier has no agent or place of business at the market of rejection, a merchant lessee, after rejection of goods in his (or her) possession or control, shall follow any reasonable instructions received from the lessor or the supplier with respect to the goods. In the absence of those instructions, […]
Section 2A-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 (§ 2A-511): (a) The lessee, after rejection of goods in the lessee’s possession, shall hold them with reasonable care at the lessor’s or supplier’s disposition for a reasonable time after the lessee’s seasonable notification of rejection; (b) If the lessor or the […]
Section 2A-220 – Effect of Default on Risk of Loss
(1) Where risk of loss is to pass to the lessee and the time of passage is not stated: (a) If a tender or delivery of goods so fails to conform to the lease contract as to give a right of rejection, the risk of their loss remains with the lessor, or, in the case of a […]
Section 2A-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 accepted. (2) If the agreed […]
Section 2A-221 – Casualty to Identified Goods
If a lease contract requires goods identified when the lease contract is made, and the goods suffer casualty without fault of the lessee, the lessor or the supplier before delivery, or the goods suffer casualty before risk of loss passes to the lessee pursuant to the lease agreement or § 2A-219, then: (a) If the loss […]
Section 2A-405 – Excused Performance
Subject to § 2A-404 on substituted performance, the following rules apply: (a) Delay in delivery or nondelivery in whole or in part by a lessor or a supplier who complies with paragraphs (b) and (c) is not a default under the lease contract if performance as agreed has been made impracticable by the occurrence of a […]
Section 2A-301 – Enforceability of Lease Contract
Except as otherwise provided in this title, a lease contract is effective and enforceable according to its terms between the parties, against purchasers of the goods, and against creditors of the parties.
Section 2A-406 – Procedure on Excused Performance
(1) If the lessee receives notification of a material or indefinite delay or an allocation justified under § 2A-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 the value of the whole lease contract is substantially […]
Section 2A-302 – Title to and Possession of Goods
Except as otherwise provided in this title, each provision of this title 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 possession or the absence of possession is […]