(1) Whether the lessor or the lessee is in default under a lease contract is determined by the lease agreement and this chapter.
(2) 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 chapter and, except as limited by this chapter, as provided in the lease agreement.
(3) If the lessor or the lessee is in default under the lease contract, the party seeking enforcement may reduce the party's claim to judgment, or otherwise enforce the lease contract by self-help or any available judicial procedure or nonjudicial procedure, including administrative proceeding, arbitration, or the like, in accordance with this chapter.
(4) Except as otherwise provided in § 4-1-305(a) or this chapter or the lease agreement, the rights and remedies referred to in subsections (2) and (3) are cumulative.
(5) If the lease agreement covers both real property and goods, the party seeking enforcement may proceed under this part as to the goods, or under other applicable law as to both the real property and the goods in accordance with that party's rights and remedies in respect of the real property, in which case this part does not apply.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
§ 4-2A-501. Default — Procedure
§ 4-2A-502. Notice after default
§ 4-2A-503. Modification or impairment of rights and remedies
§ 4-2A-504. Liquidation of damages
§ 4-2A-506. Statute of limitations
§ 4-2A-507. Proof of market rent — Time and place
§ 4-2A-509. Lessee's rights on improper delivery — Rightful rejection
§ 4-2A-510. Installment lease contracts — Rejection and default
§ 4-2A-511. Merchant lessee's duties as to rightfully rejected goods
§ 4-2A-512. Lessee's duties as to rightfully rejected goods
§ 4-2A-513. Cure by lessor of improper tender or delivery — Replacement
§ 4-2A-514. Waiver of lessee's objections
§ 4-2A-515. Acceptance of goods
§ 4-2A-517. Revocation of acceptance of goods
§ 4-2A-518. Cover — Substitute goods
§ 4-2A-520. Lessee's incidental and consequential damages
§ 4-2A-521. Lessee's right to specific performance or replevin
§ 4-2A-522. Lessee's right to goods on lessor's insolvency
§ 4-2A-524. Lessor's right to identify goods to lease contract
§ 4-2A-525. Lessor's right to possession of goods
§ 4-2A-526. Lessor's stoppage of delivery in transit or otherwise
§ 4-2A-527. Lessor's rights to dispose of goods
§ 4-2A-528. Lessor's damages for non-acceptance, failure to pay, repudiation, or other default
§ 4-2A-529. Lessor's action for the rent
§ 4-2A-530. Lessor's incidental damages
§ 4-2A-531. Standing to sue third parties for injury to goods