Colorado Code
Part 5 - Default
§ 4-2.5-512. Lessee's Duties as to Rightfully Rejected Goods

Source: L. 91: Entire article added, p. 306, § 1, effective July 1, 1992.
Uniform Statutory Source: Sections 2-602(2)(b) and (c) and 2-604.
Changes: Substantially rewritten.
Purposes: The introduction to subsection (1) references goods that threaten to decline in value speedily and not perishables, the reference in Section 2-604, the statutory analogue. This is a change in style, not substance, as the first phrase includes the second. Subparagraphs (a) and (c) are revised versions of the provisions of Section 2-602(2)(b) and (c). Subparagraph (a) states the rule with respect to the lessee's treatment of goods in its possession following rejection; subparagraph (b) states the rule regarding such goods if the lessor or supplier then fails to give instructions to the lessee. If the lessee performs in a fashion consistent with subparagraphs (a) and (b), subparagraph (c) exonerates the lessee.
Cross References:
Sections 2-602(2)(b), 2-602(2)(c) and 2-604.
Definitional Cross References:
"Action". Section 1-201(1).
"Goods". Section 2A-103(1)(h).
"Lessee". Section 2A-103(1)(n).
"Lessor". Section 2A-103(1)(p).
"Notification". Section 1-201(26).
"Reasonable time". Section 1-204(1) and (2).
"Seasonably". Section 1-204(3).
"Security interest". Section 1-201(37).
"Supplier". Section 2A-103(1)(x).
"Value". Section 1-201(44).

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