Source: L. 91: Entire article added, p. 313, § 1, effective July 1, 1992.
Uniform Statutory Source: Section 2-704.
Changes: Revised to reflect leasing practices and terminology.
Purposes: The remedies provided by this section are available to the lessor (i) if there has been a default by the lessee which falls within Section 2A-523(1) or 2A-523(3)(a), or (ii) if there has been any other default for which the lease contract gives the lessor the remedies provided by this section. Under "(ii)", the lease contract may give the lessor the remedies of identification and disposition provided by this section in various ways. For example, a lease provision might specifically refer to the remedies of identification and disposition, or it might refer to this section by number (i.e., 2A-524), or it might do so by a more general reference such as "all rights and remedies provided by Article 2A for default by the lessee."
Definitional Cross References:
"Aggrieved party". Section 1-201(2).
"Conforming". Section 2A-103(1)(d).
"Goods". Section 2A-103(1)(h).
"Learn". Section 1-201(25).
"Lease". Section 2A-103(1)(j).
"Lease contract". Section 2A-103(1)(l).
"Lessor". Section 2A-103(1)(p).
"Rights". Section 1-201(36).
"Supplier". Section 2A-103(1)(x).
"Value". Section 1-201(44).
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