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Part 1 - General Provisions.
Section 7-2A-101 - Short Title. - This article shall be known and may be cited as...
Section 7-2A-102 - Scope. - This article applies to any transaction, regardless of form, that...
Section 7-2A-103 - Definitions and Index of Definitions. - (1) In this article unless the context otherwise requires: (a)...
Section 7-2A-104 - Leases Subject to Other Statutes. - (1) A lease, although subject to this article, is also...
Section 7-2A-105 - Territorial Application of Article to Goods Covered by Certificate of Title. - Subject to the provisions of Sections 7-2A-304(3) and 7-2A-305(3), with...
Section 7-2A-106 - Limitation on Power of Parties to Consumer Lease to Choose Applicable Law and Judicial Forum. - (1) If the law chosen by the parties to a...
Section 7-2A-107 - Waiver or Renunciation of Claim or Right After Default. - Any claim or right arising out of an alleged default...
Section 7-2A-108 - Unconscionability. - (1) If the court as a matter of law finds...
Section 7-2A-109 - Option to Accelerate at Will. - (1) A term providing that one party or his or...
Part 2 - Formation and Construction of Lease Contract.
Section 7-2A-201 - Statute of Frauds. - (1) A lease contract is not enforceable by way of...
Section 7-2A-202 - Final Written Expression: Parol or Extrinsic Evidence. - Terms with respect to which the confirmatory memoranda of the...
Section 7-2A-203 - Seals Inoperative. - The affixing of a seal to a writing evidencing a...
Section 7-2A-204 - Formation in General. - (1) A lease contract may be made in any manner...
Section 7-2A-205 - Firm Offers. - An offer by a merchant to lease goods to or...
Section 7-2A-206 - Offer and Acceptance in Formation of Lease Contract. - (1) Unless otherwise unambiguously indicated by the language or circumstances,...
Section 7-2A-207 - Course of Performance or Practical Construction. - Repealed by Act 2004-524, p. 1070, ยง3, effective January 1,...
Section 7-2A-208 - Modification, Rescission and Waiver. - (1) An agreement modifying a lease contract needs no consideration...
Section 7-2A-209 - Lessee Under Finance Lease as Beneficiary of Supply Contract. - (1) The benefit of a supplier's promises to the lessor...
Section 7-2A-210 - Express Warranties. - (1) Express warranties by the lessor are created as follows:...
Section 7-2A-211 - Warranties Against Interference and Against Infringement; Lessee's Obligation Against Infringement. - (1) There is in a lease contract a warranty that...
Section 7-2A-212 - Implied Warranty of Merchantability. - (1) Except in a finance lease, a warranty that the...
Section 7-2A-213 - Implied Warranty of Fitness for Particular Purpose. - Except in a finance lease, if the lessor at the...
Section 7-2A-214 - Exclusion or Modification of Warranties. - (1) Words or conduct relevant to the creation of an...
Section 7-2A-215 - Cumulation and Conflict of Warranties Express or Implied. - Warranties, whether express or implied, must be construed as consistent...
Section 7-2A-216 - Third-Party Beneficiaries of Express and Implied Warranties. - (1) A warranty to or for the benefit of a...
Section 7-2A-217 - Identification. - Identification of goods as goods to which a lease contract...
Section 7-2A-218 - Insurance and Proceeds. - (1) A lessee obtains an insurable interest when existing goods...
Section 7-2A-219 - Risk of Loss. - (1) Except in the case of a finance lease, risk...
Section 7-2A-220 - Effect of Default on Risk of Loss. - (1) Where risk of loss is to pass to the...
Section 7-2A-221 - Casualty to Identified Goods. - If a lease contract requires goods identified when the lease...
Part 3 - Effect of Lease Contract.
Section 7-2A-301 - Enforceability of Lease Contract. - Except as otherwise provided in this article, a lease contract...
Section 7-2A-302 - Title to and Possession of Goods. - Except as otherwise provided in this article, each provision of...
Section 7-2A-303 - Alienability of Interests, Transfer of Rights, Etc. - (1) As used in this section, "creation of a security...
Section 7-2A-304 - Subsequent Lease of Goods by Lessor. - (1) Subject to Section 7-2A-303, a subsequent lessee from a...
Section 7-2A-305 - Sale or Sublease of Goods by Lessee. - (1) Subject to the provisions of Section 7-2A-303, a buyer...
Section 7-2A-306 - Priority of Certain Liens Arising by Operation of Law. - If a person in the ordinary course of his or...
Section 7-2A-307 - Priority Over Lease Contract. - (1) Except as otherwise provided in Section 7-2A-306, a creditor...
Section 7-2A-308 - Special Rights of Creditors. - (1) A creditor of a lessor in possession of goods...
Section 7-2A-309 - Lessor's and Lessee's Rights When Goods Become Fixtures. - (1) In this section: (a) goods are "fixtures" when they...
Section 7-2A-310 - Lessor's and Lessee's Rights When Goods Become Accessions. - (1) Goods are "accessions" when they are installed in or...
Section 7-2A-311 - Priority Subject to Subordination. - Nothing in this article prevents subordination by agreement by any...
Part 4 - Performance of Lease Contract: Repudiated, Substituted and Excused.
Section 7-2A-401 - Insecurity: Adequate Assurance of Performance. - (1) A lease contract imposes an obligation on each party...
Section 7-2A-402 - Anticipatory Repudiation. - (1) If either party repudiates a lease contract with respect...
Section 7-2A-403 - Retraction of Anticipatory Repudiation. - (1) Until the repudiating party's next performance is due, the...
Section 7-2A-404 - Substituted Performance. - (1) If without fault of the lessee, the lessor and...
Section 7-2A-405 - Excused Performance. - Subject to Section 7-2A-404 on substituted performance, the following rules...
Section 7-2A-406 - Procedure on Excused Performance. - (1) If the lessee receives notification of a material or...
Section 7-2A-407 - Irrevocable Promises: Finance Leases. - (1) In the case of a finance lease that is...
Part 5 - Default.
Division A - In General.
Section 7-2A-501 - Default: Procedure. - (1) Whether the lessor or the lessee is in default...
Section 7-2A-502 - Notice After Default. - Except as otherwise provided in this article or the lease...
Section 7-2A-503 - Modification or Impairment of Rights and Remedies. - (1) Except as otherwise provided in this article, the lease...
Section 7-2A-504 - Liquidation of Damages. - (1) Damages payable by either party for default, or any...
Section 7-2A-505 - Cancellation and Termination and Effect of Cancellation, Termination, Rescission, or Fraud on Rights and Remedies. - (1) On cancellation of the lease contract, all obligations that...
Section 7-2A-506 - Statute of Limitations. - (1) An action for default under a lease contract, including...
Section 7-2A-507 - Proof of Market Rent: Time and Place. - (1) Damages based on market rent (Section 7-2A-519 or 7-2A-528)...
Division B - Default by Lessor.
Section 7-2A-508 - Lessee's Remedies. - (1) If a lessor fails to deliver the goods in...
Section 7-2A-509 - Lessee's Rights on Improper Delivery; Rightful Rejection. - (1) Subject to the provisions of Section 7-2A-510 on default...
Section 7-2A-510 - Installment Lease Contracts: Rejection and Default. - (1) Under an installment lease contract a lessee may reject...
Section 7-2A-511 - Merchant Lessee's Duties as to Rightfully Rejected Goods. - (1) Subject to any security interest of a lessee (Section...
Section 7-2A-512 - Lessee's Duties as to Rightfully Rejected Goods. - (1) Except as otherwise provided with respect to goods that...
Section 7-2A-513 - Cure by Lessor of Improper Tender or Delivery; Replacement. - (1) If any tender or delivery by the lessor or...
Section 7-2A-514 - Waiver of Lessee's Objections. - (1) In rejecting goods, a lessee's failure to state a...
Section 7-2A-515 - Acceptance of Goods. - (1) Acceptance of goods occurs after the lessee has had...
Section 7-2A-516 - Effect of Acceptance of Goods; Notice of Default; Burden of Establishing Default After Acceptance; Notice of Claim or Litigation to Person Answerable Over. - (1) A lessee must pay rent for any goods accepted...
Section 7-2A-517 - Revocation of Acceptance of Goods. - (1) A lessee may revoke acceptance of a lot or...
Section 7-2A-518 - Cover; Substitute Goods. - (1) After a default by a lessor under the lease...
Section 7-2A-519 - Lessee's Damages for Nondelivery, Repudiation, Default, and Breach of Warranty in Regard to Accepted Goods. - (1) Except as otherwise provided with respect to damages liquidated...
Section 7-2A-520 - Lessee's Incidental and Consequential Damages. - (1) Incidental damages resulting from a lessor's default include expenses...
Section 7-2A-521 - Lessee's Right to Specific Performance or Replevin. - (1) Specific performance may be decreed if the goods are...
Section 7-2A-522 - Lessee's Right to Goods on Lessor's Insolvency. - (1) Subject to subsection (2) and even though the goods...
Division C - Default by Lessee.
Section 7-2A-523 - Lessor's Remedies. - (1) If a lessee wrongfully rejects or revokes acceptance of...
Section 7-2A-524 - Lessor's Right to Identify Goods to Lease Contract. - (1) A lessor aggrieved under Section 7-2A-523(1) may: (a) identify...
Section 7-2A-525 - Lessor's Right to Possession of Goods. - (1) If a lessor discovers the lessee to be insolvent,...
Section 7-2A-526 - Lessor's Stoppage of Delivery in Transit or Otherwise. - (1) A lessor may stop delivery of goods in the...
Section 7-2A-527 - Lessor's Rights to Dispose of Goods. - (1) After a default by a lessee under the lease...
Section 7-2A-528 - Lessor's Damages for Nonacceptance, Failure to Pay, Repudiation, or Other Default. - (1) Except as otherwise provided with respect to damages liquidated...
Section 7-2A-529 - Lessor's Action for the Rent. - (1) After default by the lessee under the lease contract...
Section 7-2A-530 - Lessor's Incidental Damages. - Incidental damages to an aggrieved lessor include any commercially reasonable...
Section 7-2A-531 - Standing to Sue Third Parties for Injury to Goods. - (1) If a third party so deals with goods that...
Section 7-2A-532 - Lessor's Rights to Residual Interest. - In addition to any other recovery permitted by this article...