Effective – 28 Aug 1992 400.2A-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 […]
Effective – 28 Aug 1992 400.2A-524. Lessor’s right to identify goods to lease contract. — (1) A lessor aggrieved under section 400.2A-523(1) may: (a) identify to the lease contract conforming goods not already identified if at the time the lessor learned of the default they were in the lessor’s or the supplier’s possession or control; […]
Effective – 28 Aug 1992 400.2A-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 400.2A-523(1) or 400.2A-523(3)(a) or, if agreed, after […]
Effective – 28 Aug 1992 400.2A-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 […]
Effective – 28 Aug 1992 400.2A-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 400.2A-523(1) or 400.2A-523(3)(a) or after the lessor refuses to deliver or takes possession of goods (Section 400.2A-525 or 400.2A-526), or, if agreed, after other default […]
Effective – 28 Aug 1992 400.2A-528. Lessor’s damages for nonacceptance or repudiation. — (1) Except as otherwise provided with respect to damages liquidated in the lease agreement (Section 400.2A-504) or otherwise determined pursuant to agreement of the parties (Sections 400.1-102(3) and 400.2A-503), if a lessor elects to retain the goods or a lessor elects to […]
Effective – 28 Aug 1992 400.2A-529. Lessor’s action for the rent. — (1) After default by the lessee under the lease contract of the type described in section 400.2A-523(1) or 400.2A-523(3)(a) or, if agreed, after other default by the lessee, if the lessor complies with subsection (2), the lessor may recover from the lessee as […]
Effective – 28 Aug 1992 400.2A-530. Lessor’s incidental damages. — Incidental damages to an aggrieved lessor include any commercially reasonable charges, expenses, or commissions incurred in stopping delivery, in the transportation, care and custody of goods after the lessee’s default, in connection with return or disposition of the goods, or otherwise resulting from the default. […]
Effective – 28 Aug 1992 400.2A-531. Standing to sue third parties for injury to goods. — (1) 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 (a) the lessor has a right of action against the […]
Effective – 28 Aug 1992 400.2A-532. Lessor’s rights to residual interest. — In addition to any other recovery permitted by this Article 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 […]
