Source: L. 91: Entire article added, p. 287, § 1, effective July 1, 1992.
Uniform Statutory Source: Section 2-510.
Changes: Revised to reflect leasing practices and terminology. The rule in Section (1)(b) does not allow the lessee under a finance lease to treat the risk of loss as having remained with the supplier from the beginning. This is appropriate given the limited circumstances under which the lessee under a finance lease is allowed to revoke acceptance. Section 2A-517 and Section 2A-516 official comment.
Definitional Cross References:
"Conforming". Section 2A-103(1)(d).
"Delivery". Section 1-201(14).
"Finance lease". Section 2A-103(1)(g).
"Goods". Section 2A-103(1)(h).
"Lease contract". Section 2A-103(1)(l).
"Lessee". Section 2A-103(1)(n).
"Lessor". Section 2A-103(1)(p).
"Reasonable time". Section 1-204(1) and (2).
"Rights". Section 1-201(36).
"Supplier". Section 2A-103(1)(x).
Structure Colorado Code
Title 4 - Uniform Commercial Code
Part 2 - Formation and Construction of Lease Contract
§ 4-2.5-201. Statute of Frauds
§ 4-2.5-202. Final Written Expression: Parol or Extrinsic Evidence
§ 4-2.5-203. Seals Inoperative
§ 4-2.5-204. Formation in General
§ 4-2.5-206. Offer and Acceptance in Formation of Lease Contract
§ 4-2.5-207. Course of Performance or Practical Construction
§ 4-2.5-208. Modification, Rescission and Waiver
§ 4-2.5-209. Lessee Under Finance Lease as Beneficiary of Supply Contract
§ 4-2.5-210. Express Warranties
§ 4-2.5-212. Implied Warranty of Merchantability
§ 4-2.5-213. Implied Warranty of Fitness for Particular Purpose
§ 4-2.5-214. Exclusion or Modification of Warranties
§ 4-2.5-215. Cumulation and Conflict of Warranties Express or Implied
§ 4-2.5-216. Third-Party Beneficiaries of Express and Implied Warranties
§ 4-2.5-218. Insurance and Proceeds