(1) if the loss is total, the lease contract is avoided; and
(2) if the loss is partial or the goods have so deteriorated as to no
longer conform to the lease contract, the lessee may nevertheless demand
inspection and at his or her option either treat the lease contract as
avoided or, except in a finance lease that is not a consumer lease,
accept the goods with due allowance from the rent payable for the
balance of the lease term for the deterioration or the deficiency in
quantity but without further right against the lessor.
Structure New York Laws
Part 2 - Formation and Construction of Lease Contract
2-A-202 - Final Written Expression: Parol or Extrinsic Evidence.
2-A-204 - Formation in General.
2-A-206 - Offer and Acceptance in Formation of Lease Contract.
2-A-208 - Modification, Rescission and Waiver.
2-A-209 - Lessee Under Finance Lease as Beneficiary of Supply Contract.
2-A-212 - Implied Warranty of Merchantability.
2-A-213 - Implied Warranty of Fitness for Particular Purpose.
2-A-214 - Exclusion or Modification of Warranties.
2-A-215 - Cumulation and Conflict of Warranties Express or Implied.
2-A-216 - Third-Party Beneficiaries of Express or Implied Warranties.
2-A-218 - Insurance and Proceeds.