Maine Revised Statutes
Part 5: DEFAULT
11 §2-1523. Lessor's remedies

§2-1523. Lessor's remedies
(1).  If a lessee wrongfully rejects or revokes acceptance of goods, fails to make a payment when due or repudiates with respect to a part or the whole, then, with respect to any goods involved, and with respect to all of the goods if under an installment lease contract the value of the whole lease contract is substantially impaired (section 2‑1510) the lessee is in default under the lease contract and the lessor may:  
(a). Cancel the lease contract (section 2‑1505, subsection (1));   [PL 1991, c. 805, §4 (NEW).]
(b). Proceed respecting goods not identified to the lease contract (section 2‑1524);   [PL 1991, c. 805, §4 (NEW).]
(c). Withhold delivery of the goods and take possession of goods previously delivered (section 2‑1525);   [PL 1991, c. 805, §4 (NEW).]
(d). Stop delivery of the goods by any bailee (section 2‑1526);   [PL 1991, c. 805, §4 (NEW).]
(e). Dispose of the goods and recover damages (section 2‑1527), retain the goods and recover damages (section 2‑1528) or in a proper case recover rent (section 2‑1529); or   [PL 1991, c. 805, §4 (NEW).]
(f). Exercise any other rights or pursue any other remedies provided in the lease contract.   [PL 1991, c. 805, §4 (NEW).]
[PL 1991, c. 805, §4 (NEW).]
(2).  If a lessor does not fully exercise a right or obtain a remedy to which the lessor is entitled under subsection (1), the lessor may recover the loss resulting in the ordinary course of events from the lessee's default as determined in any reasonable manner, together with incidental damages, minus expenses saved in consequence of the lessee's default.  
[PL 1991, c. 805, §4 (NEW).]
(3).  If a lessee is otherwise in default under a lease contract, the lessor may exercise the rights and pursue the remedies provided in the lease contract, which may include a right to cancel the lease. In addition, unless otherwise provided in the lease contract:  
(a). If the default substantially impairs the value of the lease contract to the lessor, the lessor may exercise the rights and pursue the remedies provided in subsection (1) or (2); or   [PL 1991, c. 805, §4 (NEW).]
(b). If the default does not substantially impair the value of the lease contract to the lessor, the lessor may recover as provided in subsection (2).   [PL 1991, c. 805, §4 (NEW).]
[PL 1991, c. 805, §4 (NEW).]
SECTION HISTORY
PL 1991, c. 805, §4 (NEW).

Structure Maine Revised Statutes

Maine Revised Statutes

TITLE 11: UNIFORM COMMERCIAL CODE

Article 2-A: LEASES

Part 5: DEFAULT

11 §2-1501. Default; procedure

11 §2-1502. Notice after default

11 §2-1503. Modification or impairment of rights and remedies

11 §2-1504. Liquidation of damages

11 §2-1505. Cancellation and termination and effect of cancellation, termination, rescission or fraud on rights and remedies

11 §2-1506. Statute of limitations

11 §2-1507. Proof of market rent; time and place

11 §2-1508. Lessee's remedies

11 §2-1509. Lessee's rights on improper delivery; rightful rejection

11 §2-1510. Installment lease contracts; rejection and default

11 §2-1511. Merchant lessee's duties as to rightfully rejected goods

11 §2-1512. Lessee's duties as to rightfully rejected goods

11 §2-1513. Cure by lessor of improper tender or delivery; replacement

11 §2-1514. Waiver of lessee's objections

11 §2-1515. Acceptance of goods

11 §2-1516. Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable over

11 §2-1517. Revocation of acceptance of goods

11 §2-1518. Cover; substitute goods

11 §2-1519. Lessee's damages for nondelivery, repudiation, default and breach of warranty in regard to accepted goods

11 §2-1520. Lessee's incidental and consequential damages

11 §2-1521. Lessee's right to specific performance or replevin

11 §2-1522. Lessee's right to goods on lessor's insolvency

11 §2-1523. Lessor's remedies

11 §2-1524. Lessor's right to identify goods to lease contract

11 §2-1525. Lessor's right to possession of goods

11 §2-1526. Lessor's stoppage of delivery in transit or otherwise

11 §2-1527. Lessor's rights to dispose of goods

11 §2-1528. Lessor's damages for nonacceptance, failure to pay, repudiation or other default

11 §2-1529. Lessor's action for the rent

11 §2-1530. Lessor's incidental damages

11 §2-1531. Standing to sue third parties for injury to goods

11 §2-1532. Lessor's rights to residual interest