0 chapters · 619 sections in this title.
O.C.G.A. § 11-2A-504 Liquidation of damages
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(1) Damages payable by either party for default, or any other act or omission, including indemnity for loss or diminution of anticipated tax benefits or loss or damage to lessor’s residual interest, may be liquidated in the lease agreement but only at an amount or by a formula tha…
O.C.G.A. § 11-2A-505 Cancellation and termination and effect of cancellation, termination, rescission, or fraud on rights and remedies
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(1) On cancellation of the lease contract, all obligations that are still executory on both sides are discharged, but any right based on prior default or performance survives, and the canceling party also retains any remedy for default of the whole lease contract or any unperform…
O.C.G.A. § 11-2A-506 Statute of limitations
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(1) An action for default under a lease contract, including breach of warranty or indemnity, must be commenced within 4 years after the cause of action accrued. By the original lease contract the parties may reduce the period of limitation to not less than one year. (2) A cause o…
O.C.G.A. § 11-2A-507 Proof of market rent: Time and place
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(1) Damages based on market rent (Code Section 11-2A-519 or 11-2A-528) are determined according to the rent for the use of the goods concerned for a lease term identical to the remaining lease term of the original lease agreement and prevailing at the times specified in Code Secti…