Section 507 – Proof of market rent — Time and place.
70A-2a-507. Proof of market rent — Time and place. (1) Damages based on market rent as provided in Section 70A-2a-519 or 70A-2a-528 are determined according to the rent for the use of the goods concerned for a lease term identical to the remaining lease term of the original lease agreement and prevailing at the times […]
Section 508 – Lessee’s remedies.
70A-2a-508. Lessee’s remedies. (1) If a lessor fails to deliver the goods in conformity to the lease contract as provided in Section 70A-2a-509 or repudiates the lease contract as provided in Section 70A-2a-402, or a lessee rightfully rejects the goods as provided in Section 70A-2a-509 or justifiably revokes acceptance of the goods as provided in […]
Section 509 – Lessee’s rights on improper delivery — Rightful rejection.
70A-2a-509. Lessee’s rights on improper delivery — Rightful rejection. (1) Subject to the provisions of Section 70A-2a-510 on default in installment lease contracts, if the goods or the tender or delivery fail in any respect to conform to the lease contract, the lessee may reject or accept the goods or accept any commercial unit or […]
Section 510 – Installment lease contracts — Rejection and default.
70A-2a-510. Installment lease contracts — Rejection and default. (1) Under an installment lease contract, 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 […]
Section 511 – Merchant lessee’s duties as to rightfully rejected goods.
70A-2a-511. Merchant lessee’s duties as to rightfully rejected goods. (1) Subject to any security interest of a lessee as provided in Subsection 70A-2a-508(5), 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 possession or control, shall follow […]
Section 512 – Lessee’s duties as to rightfully rejected goods.
70A-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 as provided in Section 70A-2a-511 and subject to any security interest of a lessee as provided in Subsection 70A-2a-508(5): (a) the lessee, after rejection of goods in the lessee’s possession, shall […]
Section 513 – Cure by lessor of improper tender or delivery — Replacement.
70A-2a-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 it is 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 […]
Section 514 – Waiver of lessee’s objections.
70A-2a-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 as provided in Section […]
Section 515 – Acceptance of goods.
70A-2a-515. Acceptance of goods. (1) Acceptance of goods occurs after: (a) the lessee has had a reasonable opportunity to inspect the goods and 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 407 – Irrevocable promises — Finance leases.
70A-2a-407. Irrevocable promises — Finance leases. (1) In the case of a finance lease that is not a consumer lease, the lessee’s promises under the lease contract become irrevocable and independent upon the lessee’s acceptance of the goods. (2) A promise that has become irrevocable and independent under Subsection (1): (a) is effective and enforceable […]