§ 2A—510. Installment lease contracts: rejection and default
(1) Under an installment lease contract a lessee may reject any delivery that is nonconforming if the nonconformity substantially impairs the value of that delivery and cannot be cured or the nonconformity is a defect in the required documents; but if the nonconformity does not fall within subsection (2) of this section and the lessor or the supplier gives adequate assurance of its cure, the lessee must accept that delivery.
(2) Whenever nonconformity or default with respect to one or more deliveries substantially impairs the value of the installment lease contract as a whole there is a default with respect to the whole. But, the aggrieved party reinstates the installment lease contract as a whole if the aggrieved party accepts a nonconforming delivery without seasonably notifying of cancellation or brings an action with respect only to past deliveries or demands performance as to future deliveries. (Added 1993, No. 158 (Adj. Sess.), § 10, eff. Jan. 1, 1995.)
Structure Vermont Statutes
Title 9A - Uniform Commercial Code
§ 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—107. Waiver or renunciation of claim or right after default
§ 2A—109. Option to accelerate at will
§ 2A—202. Final written expression; parol or extrinsic evidence
§ 2A—204. Formation in general
§ 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—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—218. Insurance and proceeds
§ 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—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—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—406. Procedure on excused performance
§ 2A—407. Irrevocable promises: finance leases
§ 2A—502. Notice after default
§ 2A—503. Modification or impairment of rights and remedies
§ 2A—504. Liquidation of damages
§ 2A—506. Statute of limitations
§ 2A—507. Proof of market rent: time and place
§ 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—517. Revocation of acceptance of goods
§ 2A—518. Cover; substitute 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—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