Corpus browser
179663 records-
Open
Commercial Code - COM - COM § 10402
Commercial Code - COM - COM § 10402
(a) If either party repudiates a lease contract, other than a consumer lease, with respect to a performance not yet due under the lease contract, the loss of which performance will substantially impair the value of the lease contract to the other, the aggrieved party may: (1) For
-
Open
Commercial Code - COM - COM § 10403
Commercial Code - COM - COM § 10403
(a) Until the repudiating party’s next performance is due, the repudiating party can retract the repudiation unless, since the repudiation, the aggrieved party has canceled the lease contract or materially changed the aggrieved party’s position or otherwise indicated that the agg
-
Open
Commercial Code - COM - COM § 10404
Commercial Code - COM - COM § 10404
(a) 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 reasona
-
Open
Commercial Code - COM - COM § 10405
Commercial Code - COM - COM § 10405
Subject to Section 10404 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 paragraphs (2) and (3) is not a default under the lease contract if performance as agreed has been
-
Open
Commercial Code - COM - COM § 10406
Commercial Code - COM - COM § 10406
(a) If the lessee receives notification of a material or indefinite delay or an allocation justified under Section 10405, 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
-
Open
Commercial Code - COM - COM § 10407
Commercial Code - COM - COM § 10407
(a) 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. (b) A promise that has become irrevocable and independent under subdivision (a): (1) Is eff
-
Open
Commercial Code - COM - COM § 10501
Commercial Code - COM - COM § 10501
(a) Whether the lessor or the lessee is in default under a lease contract is determined by the lease agreement and this division. (b) If the lessor or the lessee is in default under the lease contract, the party seeking enforcement has rights and remedies as provided in this divi
-
Open
Commercial Code - COM - COM § 10502
Commercial Code - COM - COM § 10502
Except as otherwise provided in this division or the lease agreement, the lessor or lessee in default under the lease contract is not entitled to notice of default or notice of enforcement from the other party to the lease agreement.
-
Open
Commercial Code - COM - COM § 10503
Commercial Code - COM - COM § 10503
(a) Except as otherwise provided in this division, the lease agreement may include rights and remedies for default in addition to or in substitution for those provided in this division and may limit or alter the measure of damages recoverable under this division. (b) Resort to a
-
Open
Commercial Code - COM - COM § 10504
Commercial Code - COM - COM § 10504
(a) Damages payable by either party for default, or any other act or omission, including indemnity for loss or diminution of anticipated tax benefits or loss or damage to the lessor’s residual interest, may be liquidated in the lease agreement subject to and in compliance with Se
-
Open
Commercial Code - COM - COM § 10505
Commercial Code - COM - COM § 10505
(a) On cancellation of the lease contract, all obligations that are still executory on both sides are discharged, but any right based on prior default or performance survives, and the canceling party also retains any remedy for default of the whole lease contract or any unperform
-
Open
Commercial Code - COM - COM § 10506
Commercial Code - COM - COM § 10506
(a) An action for default under a lease contract, including breach of warranty or indemnity, must be commenced within four years after the cause of action accrued. In a lease contract that is not a consumer lease, by the original lease contract the parties may reduce the period o
-
Open
Commercial Code - COM - COM § 10507
Commercial Code - COM - COM § 10507
(a) Damages based on market rent (Section 10519 or 10528) 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 specified in Sections 10519 and 105
-
Open
Commercial Code - COM - COM § 10508
Commercial Code - COM - COM § 10508
(a) If a lessor fails to deliver the goods in conformity to the lease contract (Section 10509) or repudiates the lease contract (Section 10402), or a lessee rightfully rejects the goods (Section 10509) or justifiably revokes acceptance of the goods (Section 10517), then with resp
-
Open
Commercial Code - COM - COM § 10509
Commercial Code - COM - COM § 10509
(a) Subject to the provisions of Section 10510 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 units and reject the r
-
Open
Commercial Code - COM - COM § 10510
Commercial Code - COM - COM § 10510
(a) 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
-
Open
Commercial Code - COM - COM § 10511
Commercial Code - COM - COM § 10511
(a) Subject to any security interest of a lessee (subdivision (e) of Section 10508), 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 reasonabl
-
Open
Commercial Code - COM - COM § 10512
Commercial Code - COM - COM § 10512
(a) Except as otherwise provided with respect to goods that threaten to decline in value speedily (Section 10511) and subject to any security interest of a lessee (subdivision (e) of Section 10508): (1) The lessee, after rejection of goods in the lessee’s possession, shall hold t
-
Open
Commercial Code - COM - COM § 10513
Commercial Code - COM - COM § 10513
(a) 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 to cure and may then make
-
Open
Commercial Code - COM - COM § 10514
Commercial Code - COM - COM § 10514
(a) 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: (1) If, stated seasonably, the lessor or the supplier could have cu
-
Open
Commercial Code - COM - COM § 10515
Commercial Code - COM - COM § 10515
(a) Acceptance of goods occurs after the lessee has had a reasonable opportunity to inspect the goods and (1) 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
-
Open
Commercial Code - COM - COM § 10516
Commercial Code - COM - COM § 10516
(a) A lessee must pay rent for any goods accepted in accordance with the lease contract, with due allowance for goods rightfully rejected or not delivered. (b) A lessee’s acceptance of goods precludes rejection of the goods accepted. In the case of a finance lease, other than a c
-
Open
Commercial Code - COM - COM § 10517
Commercial Code - COM - COM § 10517
(a) A lessee may revoke acceptance of a lot or commercial unit whose nonconformity substantially impairs its value to the lessee if the lessee has accepted it: (1) Except in the case of a finance lease, on the reasonable assumption that its nonconformity would be cured and it has
-
Open
Commercial Code - COM - COM § 10518
Commercial Code - COM - COM § 10518
(a) After a default by a lessor under the lease contract of the type described in subdivision (a) of Section 10508, 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
-
Open
Commercial Code - COM - COM § 10519
Commercial Code - COM - COM § 10519
(a) Except as otherwise provided with respect to damages liquidated in the lease agreement (Section 10504) or otherwise determined pursuant to agreement of the parties (Sections 1302 and 10503), if a lessee elects not to cover or a lessee elects to cover and the cover is by lease