Title 12A, Title 12A: COMMERCIAL TRANSACTIONS

12A:2A-507. Proof of market rent: time and place 12A:2A-507. Proof of market rent: time and place. (1) Damages based on market rent (12A:2A-519 or 12A:2A-528) are determined according to the rent for the use of the goods concerned for a lease term identical to the remaining lease…

12A:2A-508. Lessee's remedies 12A:2A-508. Lessee's remedies. (1) If a lessor fails to deliver the goods in conformity to the lease contract (12A:2A-509) or repudiates the lease contract (12A:2A-402), or a lessee rightfully rejects the goods (12A:2A-509) or justifiably revokes acc…

12A:2A-509. Lessee's rights on improper delivery; rightful rejection 12A:2A-509. Lessee's rights on improper delivery; rightful rejection. (1) Subject to the provisions of 12A:2A-510 on default in installment lease contracts, if the goods or the tender or delivery fail in any res…

12A:2A-510. Installment lease contracts: rejection and default 12A: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 th…

12A:2A-511. Merchant lessee's duties as to rightfully rejected goods 12A:2A-511. Merchant lessee's duties as to rightfully rejected goods. (1) Subject to any security interest of a lessee (12A:2A-508(5)), if a lessor or a supplier has no agent or place of business at the market o…

12A:2A-512. Lessee's duties as to rightfully rejected goods 12A:2A-512. Lessee's duties as to rightfully rejected goods. (1) Except as otherwise provided with respect to goods that threaten to decline in value speedily (12A:2A-511) and subject to any security interest of a lessee…

12A:2A-513. Cure by lessor of improper tender or delivery; replacement 12A:2A-513. Cure by lessor of improper tender or delivery; replacement. (1) If any tender or delivery by the lessor or the supplier is rejected because nonconforming and the time for performance has not yet ex…

12A:2A-514 Waiver of lessee's objections. 12A:2A-514. Waiver of lessee's objections. (1) In rejecting goods, a lessee's failure to state a particular defect that is ascertainable by reasonable inspection precludes the lessee from relying on the defect to justify rejection or to e…

12A:2A-515. Acceptance of goods 12A:2A-515. Acceptance of goods. (1) Acceptance of goods occurs after the lessee has had a reasonable opportunity to inspect the goods and (a) the lessee signifies or acts with respect to the goods in a manner that signifies to the lessor or the su…

12A: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 12A:2A-516. Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; no…

12A:2A-517. Revocation of acceptance of goods 12A:2A-517. Revocation of acceptance of goods. (1) A lessee may revoke acceptance of a lot or commercial unit whose nonconformity substantially impairs its value to the lessee if the lessee has accepted it: (a) except in the case of a…

12A:2A-518. Cover; substitute goods 12A:2A-518. Cover; substitute goods. (1) After a default by a lessor under the lease contract of the type described in 12A:2A-508(1), or, if agreed, after other default by the lessor, the lessee may cover by making any purchase or lease of or c…

12A:2A-519. Lessee's damages for non-delivery, repudiation, default, and breach of warranty in regard to accepted goods 12A:2A-519. Lessee's damages for non-delivery, repudiation, default, and breach of warranty in regard to accepted goods. (1) Except as otherwise provided with r…

12A:2A-520. Lessee's incidental and consequential damages 12A:2A-520. Lessee's incidental and consequential damages. (1) Incidental damages resulting from a lessor's default include expenses reasonably incurred in inspection, receipt, transportation, and care and custody of goods…

12A:2A-521. Lessee's right to specific performance or replevin 12A:2A-521. Lessee's right to specific performance or replevin. (1) Specific performance may be decreed if the goods are unique or in other proper circumstances. (2) A decree for specific performance may include any t…

12A:2A-522. Lessee's right to goods on lessor's insolvency 12A:2A-522. Lessee's right to goods on lessor's insolvency. (1) Subject to subsection (2) and even though the goods have not been shipped, a lessee who has paid a part or all of the rent and security for goods identified …

12A:2A-523. Lessor's remedies 12A:2A-523. Lessor's remedies. (1) If a lessee wrongfully rejects or revokes acceptance of goods or 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 …

12A:2A-524. Lessor's right to identify goods to lease contract 12A:2A-524. Lessor's right to identify goods to lease contract. (1) After default by the lessee under the lease contract of the type described in 12A:2A-523(1) or 12A:2A-523(3)(a) or, if agreed, after other default by…

12A:2A-525. Lessor's right to possession of goods 12A:2A-525. Lessor's right to possession of goods. (1) If a lessor discovers the lessee to be insolvent, the lessor may refuse to deliver the goods. (2) After a default by the lessee under the lease contract of the type described …

12A:2A-526 Lessor's stoppage of delivery in transit or otherwise. 12A:2A-526. Lessor's stoppage of delivery in transit or otherwise. (1) A lessor may stop delivery of goods in the possession of a carrier or other bailee if the lessor discovers the lessee to be insolvent and may s…

12A:2A-527. Lessor's rights to dispose of goods 12A:2A-527. Lessor's rights to dispose of goods. (1) After a default by a lessee under the lease contract of the type described in 12A:2A-523(1) or 12A:2A-523(3)(a) or after the lessor refuses to deliver or takes possession of goods…

12A:2A-528. Lessor's damages for nonacceptance, failure to pay, repudiation, or other default 12A:2A-528. Lessor's damages for nonacceptance, failure to pay, repudiation, or other default. (1) Except as otherwise provided with respect to damages liquidated in the lease agreement …

12A:2A-529. Lessor's action for the rent 12A:2A-529. Lessor's action for the rent. (1) After default by the lessee under the lease contract of the type described in 12A:2A-523(1) or 12A:2A-523(3)(a) or, if agreed, after other default by the lessee, if the lessor complies with sub…

12A:2A-530. Lessor's incidental damages 12A:2A-530. Lessor's incidental damages. Incidental damages to an aggrieved lessor include any commercially reasonable charges, expenses, or commissions incurred in stopping delivery, in the transportation, care and custody of goods after t…

12A:2A-531. Standing to sue third parties for injury to goods 12A:2A-531. Standing to sue third parties for injury to goods. (1) If a third party so deals with goods that have been identified to a lease contract as to cause actionable injury to a party to the lease contract (a) t…

12A:2A-532. Lessor's rights to residual interest 12A:2A-532. Lessor's rights to residual interest. In addition to any other recovery permitted by this chapter or other law, the lessor may recover from the lessee an amount that will fully compensate the lessor for any loss of or d…