Vermont Statutes
Article 2A - Leases
§ 2A—404. Substituted performance

§ 2A—404. Substituted performance
(1) If without fault of the lessee, the lessor and the supplier, the agreed berthing, loading, or unloading facilities fail or the agreed type of carrier becomes unavailable or the agreed manner of delivery otherwise becomes commercially impracticable, but a commercially reasonable substitute is available, the substitute performance must be tendered and accepted.
(2) If the agreed means or manner of payment fails because of domestic or foreign governmental regulation:
(a) the lessor may withhold or stop delivery or cause the supplier to withhold or stop delivery unless the lessee provides a means or manner of payment that is commercially a substantial equivalent; and
(b) if delivery has already been taken, payment by the means or in the manner provided by the regulation discharges the lessee’s obligation unless the regulation is discriminatory, oppressive, or predatory. (Added 1993, No. 158 (Adj. Sess.), § 10, eff. Jan. 1, 1995.)

Structure Vermont Statutes

Vermont Statutes

Title 9A - Uniform Commercial Code

Article 2A - Leases

§ 2A—101. Short title

§ 2A—102. Scope

§ 2A—103. Definitions and index of definitions

§ 2A—104. Leases subject to other law

§ 2A—105. Territorial application of article to goods covered by certificate of title

§ 2A—106. Limitation on power of parties to consumer lease to choose applicable law and judicial forum

§ 2A—107. Waiver or renunciation of claim or right after default

§ 2A—108. Unconscionability

§ 2A—109. Option to accelerate at will

§ 2A—201. Statute of frauds

§ 2A—202. Final written expression; parol or extrinsic evidence

§ 2A—203. Seals inoperative

§ 2A—204. Formation in general

§ 2A—205. Firm offers

§ 2A—206. Offer and acceptance in formation of lease contract

§ 2A—208. Modification, rescission and waiver

§ 2A—209. Lessee under finance lease as beneficiary of supply contract

§ 2A—210. Express warranties

§ 2A—211. Warranties against interference and against infringement; lessee’s obligation against infringement

§ 2A—212. Implied warranty of merchantability

§ 2A—213. Implied warranty of fitness for particular purpose

§ 2A—214. Exclusion or modification of warranties

§ 2A—215. Cumulation and conflict of warranties express or implied

§ 2A—216. Third-party beneficiaries of express and implied warranties

§ 2A—217. Identification

§ 2A—218. Insurance and proceeds

§ 2A—219. Risk of loss

§ 2A—220. Effect of default on risk of loss

§ 2A—221. Casualty to identified goods

§ 2A—301. Enforceability of lease contract

§ 2A—302. Title to and possession of goods

§ 2A—303. Alienability of party’s interest under lease contract or of lessor’s residual interest in goods; delegation of performance; transfer of rights

§ 2A—304. Subsequent lease of goods by lessor

§ 2A—305. Sale or sublease of goods by lessee

§ 2A—306. Priority of certain liens arising by operation of law

§ 2A—307. Priority of liens arising by attachment or levy on, security interests in, and other claims to goods

§ 2A—308. Special rights of creditors

§ 2A—309. Lessor’s and lessee’s rights when goods become fixtures

§ 2A—310. Lessor’s and lessee’s rights when goods become accessions

§ 2A—311. Priority subject to subordination

§ 2A—401. Insecurity: adequate assurance of performance

§ 2A—402. Anticipatory repudiation

§ 2A—403. Retraction of anticipatory repudiation

§ 2A—404. Substituted performance

§ 2A—405. Excused performance

§ 2A—406. Procedure on excused performance

§ 2A—407. Irrevocable promises: finance leases

§ 2A—501. Default: procedure

§ 2A—502. Notice after default

§ 2A—503. Modification or impairment of rights and remedies

§ 2A—504. Liquidation of damages

§ 2A—505. Cancellation and termination and effect of cancellation, termination, rescission, or fraud on rights and remedies

§ 2A—506. Statute of limitations

§ 2A—507. Proof of market rent: time and place

§ 2A—508. Lessee’s remedies

§ 2A—509. Lessee’s rights on improper delivery; rightful rejection

§ 2A—510. Installment lease contracts: rejection and default

§ 2A—511. Merchant lessee’s duties as to rightfully rejected goods

§ 2A—512. Lessee’s duties as to rightfully rejected goods

§ 2A—513. Cure by lessor of improper tender or delivery; replacement

§ 2A—514. Waiver of lessee’s objections

§ 2A—515. Acceptance of goods

§ 2A—516. Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable over

§ 2A—517. Revocation of acceptance of goods

§ 2A—518. Cover; substitute goods

§ 2A—519. Lessee’s damages for non-delivery, repudiation, default, and breach of warranty in regard to accepted goods

§ 2A—520. Lessee’s incidental and consequential damages

§ 2A—521. Lessee’s right to specific performance or replevin

§ 2A—522. Lessee’s right to goods on lessor’s insolvency

§ 2A—523. Lessor’s remedies

§ 2A—524. Lessor’s right to identify goods to lease contract

§ 2A—525. Lessor’s right to possession of goods

§ 2A—526. Lessor’s stoppage of delivery in transit or otherwise

§ 2A—527. Lessor’s rights to dispose of goods

§ 2A—528. Lessor’s damages for non-acceptance, failure to pay, repudiation, or other default

§ 2A—529. Lessor’s action for the rent

§ 2A—530. Lessor’s incidental damages

§ 2A—531. Standing to sue third parties for injury to goods

§ 2A—532. Lessor’s rights to residual interest