Except as otherwise provided in this article 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.
Source: L. 91: Entire article added, p. 301, § 1, effective July 1, 1992.
Uniform Statutory Source: None.
Purposes: This section makes clear that absent agreement to the contrary or provision in this Article to the contrary, e.g., Section 2A-516(3)(a), the party in default is not entitled to notice of default or enforcement. While a review of Part 5 of Article 9 leads to the same conclusion with respect to giving notice of default to the debtor, it is never stated. Although Article 9 requires notice of disposition and strict foreclosure, the different scheme of lessors' and lessees' rights and remedies developed under the common law, and codified by this Article, generally does not require notice of enforcement; furthermore, such notice is not mandated by due process requirements. However, certain sections of this Article do require notice. E.g., Section 2A-517(2).
Cross References:
Sections 2A-516(3)(a), 2A-517(2), and Article 9, esp. Part 5.
Definitional Cross References:
"Lease agreement". Section 2A-103(1)(k).
"Lease contract". Section 2A-103(1)(l).
"Lessee". Section 2A-103(1)(n).
"Lessor". Section 2A-103(1)(p).
"Notice". Section 1-201(25).
"Party". Section 1-201(29).
Structure Colorado Code
Title 4 - Uniform Commercial Code
§ 4-2.5-501. Default: Procedure
§ 4-2.5-502. Notice After Default
§ 4-2.5-503. Modification or Impairment of Rights and Remedies
§ 4-2.5-504. Liquidation of Damages
§ 4-2.5-506. Statute of Limitations
§ 4-2.5-507. Proof of Market Rent: Time and Place
§ 4-2.5-508. Lessee's Remedies
§ 4-2.5-509. Lessee's Rights on Improper Delivery; Rightful Rejection
§ 4-2.5-510. Installment Lease Contracts: Rejection and Default
§ 4-2.5-511. Merchant Lessee's Duties as to Rightfully Rejected Goods
§ 4-2.5-512. Lessee's Duties as to Rightfully Rejected Goods
§ 4-2.5-513. Cure by Lessor of Improper Tender or Delivery; Replacement
§ 4-2.5-514. Waiver of Lessee's Objections
§ 4-2.5-515. Acceptance of Goods
§ 4-2.5-517. Revocation of Acceptance of Goods
§ 4-2.5-518. Cover; Substitute Goods
§ 4-2.5-520. Lessee's Incidental and Consequential Damages
§ 4-2.5-521. Lessee's Right to Specific Performance or Replevin
§ 4-2.5-522. Lessee's Right to Goods on Lessor's Insolvency
§ 4-2.5-523. Lessor's Remedies
§ 4-2.5-524. Lessor's Right to Identify Goods to Lease Contract
§ 4-2.5-525. Lessor's Right to Possession of Goods
§ 4-2.5-526. Lessor's Stoppage of Delivery in Transit or Otherwise
§ 4-2.5-527. Lessor's Rights to Dispose of Goods
§ 4-2.5-528. Lessor's Damages for Nonacceptance, Failure to Pay, Repudiation, or Other Default
§ 4-2.5-529. Lessor's Action for the Rent
§ 4-2.5-530. Lessor's Incidental Damages
§ 4-2.5-531. Standing to Sue Third Parties for Injury to Goods