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N.Y. Uniform Commercial Code Law § 2-A-403 Retraction of Anticipatory Repudiation
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Section 2-A-403. Retraction of Anticipatory Repudiation.\n (1) Until the repudiating party's next performance is due, the\nrepudiating party can retract the repudiation unless, since the\nrepudiation, the aggrieved party has canceled the lease contract or\nmaterially changed the …
N.Y. Uniform Commercial Code Law § 2-A-404 Substituted Performance
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Section 2-A-404. Substituted Performance.\n (1) If without fault of the lessee, the lessor and the supplier, the\nagreed berthing, loading, or unloading facilities fail or the agreed\ntype of carrier becomes unavailable or the agreed manner of delivery\notherwise becomes commerci…
N.Y. Uniform Commercial Code Law § 2-A-405 Excused Performance
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Section 2-A-405. Excused Performance.\n (1) Subject to Section 2-A-404 on substituted performance, the\nfollowing rules apply:\n (a) delay in delivery or nondelivery in whole or in part by a\n lessor or a supplier who complies with paragraph (b) and\n subsection (2) is not a defa…
N.Y. Uniform Commercial Code Law § 2-A-406 Procedure on Excused Performance
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Section 2-A-406. Procedure on Excused Performance.\n (1) If the lessee receives notification of a material or indefinite\ndelay or an allocation justified under Section 2-A-405, the lessee may\nby written notification to the lessor as to any goods involved, and with\nrespect to a…
N.Y. Uniform Commercial Code Law § 2-A-407 Irrevocable Promises: Finance Leases
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Section 2-A-407. Irrevocable Promises: Finance Leases.\n (1) In the case of a finance lease that is not a consumer lease the\nlessee's promises under the lease contract become irrevocable and\nindependent upon the lessee's acceptance of the goods.\n (2) A promise that has become …
N.Y. Uniform Commercial Code Law § 2-A-501 Default: Procedure
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Section 2-A-501. Default: Procedure.\n (1) Whether the lessor or the lessee is in default under a lease\ncontract is determined by the lease agreement and this Article.\n (2) If the lessor or the lessee is in default under the lease\ncontract, the party seeking enforcement has ri…
N.Y. Uniform Commercial Code Law § 2-A-502 Notice After Default
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Section 2-A-502. Notice After Default.\n Except as otherwise provided in this Article or the lease agreement,\nthe lessor or lessee in default under the lease contract is not entitled\nto notice of default or notice of enforcement from the other party to\nthe lease agreement.\n
N.Y. Uniform Commercial Code Law § 2-A-503 Modification or Impairment of Rights and Remedies
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Section 2-A-503. Modification or Impairment of Rights and Remedies.\n (1) Except as otherwise provided in this Article, the lease agreement\nmay include rights and remedies for default in addition to or in\nsubstitution for those provided in this Article and may limit or alter\nt…
N.Y. Uniform Commercial Code Law § 2-A-504 Liquidation of Damages
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Section 2-A-504. Liquidation of Damages.\n (1) Damages payable by either party for default, or any other act or\nomission, including indemnity for loss or diminution of anticipated tax\nbenefits or loss or damage to lessor's residual interest, may be\nliquidated in the lease agre…
N.Y. Uniform Commercial Code Law § 2-A-505 Cancellation and Termination and Effect of Cancellation, Termination, Rescission, or Fraud on Rights and Remedies
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Section 2-A-505. Cancellation and Termination and Effect of\n Cancellation, Termination, Rescission, or Fraud on\n Rights and Remedies.\n (1) On cancellation of the lease contract, all obligations that are\nstill executory on both sides are discharged, but any right based on\npri…
N.Y. Uniform Commercial Code Law § 2-A-506 Statute of Limitations
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Section 2-A-506. Statute of Limitations.\n (1) An action for default under a lease contract, including breach of\nwarranty or indemnity, must be commenced within four years after the\ncause of action accrued. In a lease contract that is not a consumer\nlease, by the original leas…
N.Y. Uniform Commercial Code Law § 2-A-507 Proof of Market Rent: Time and Place
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Section 2-A-507. Proof of Market Rent: Time and Place.\n (1) Damages based on market rent (Section 2-A-519 or 2-A-528) are\ndetermined according to the rent for the use of the goods concerned for\na lease term identical to the remaining lease term of the original lease\nagreement…
N.Y. Uniform Commercial Code Law § 2-A-508 Lessee's Remedies
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Section 2-A-508. Lessee's Remedies.\n (1) If a lessor fails to deliver the goods in conformity to the lease\ncontract (Section 2-A-509) or repudiates the lease contract (Section\n2-A-402), or a lessee rightfully rejects the goods (Section 2-A-509) or\njustifiably revokes acceptan…
N.Y. Uniform Commercial Code Law § 2-A-509 Lessee's Rights on Improper Delivery: Rightful Rejection
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Section 2-A-509. Lessee's Rights on Improper Delivery: Rightful\n Rejection.\n (1) Subject to the provisions of Section 2-A-510 on default in\ninstallment lease contracts, if the goods or the tender or delivery fail\nin any respect to conform to the lease contract, the lessee may…
N.Y. Uniform Commercial Code Law § 2-A-510 Installment Lease Contracts: Rejection and Default
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Section 2-A-510. Installment Lease Contracts: Rejection and Default.\n (1) Under an installment lease contract a lessee may reject any\ndelivery that is nonconforming if the nonconformity substantially\nimpairs the value of that delivery and cannot be cured or the\nnonconformity …
N.Y. Uniform Commercial Code Law § 2-A-511 Merchant Lessee's Duties as to Rightfully Rejected Goods
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Section 2-A-511. Merchant Lessee's Duties as to Rightfully Rejected\n Goods.\n (1) Subject to any security interest of a lessee (Section 2-A-508(5)),\nif a lessor or a supplier has no agent or place of business at the\nmarket of rejection, a merchant lessee, after rejection of go…
N.Y. Uniform Commercial Code Law § 2-A-512 Lessee's Duties as to Rightfully Rejected Goods
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Section 2-A-512. Lessee's Duties as to Rightfully Rejected Goods.\n (1) Except as otherwise provided with respect to goods that threaten\nto decline in value speedily (Section 2-A-511) and subject to any\nsecurity interest of a lessee (Section 2-A-508(5)):\n (a) the lessee, after…
N.Y. Uniform Commercial Code Law § 2-A-513 Cure by Lessor of Improper Tender or Delivery; Replacement
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Section 2-A-513. Cure by Lessor of Improper Tender or Delivery;\n Replacement.\n (1) If any tender or delivery by the lessor or the supplier is\nrejected because nonconforming and the time for performance has not yet\nexpired, the lessor or the supplier may seasonably notify the …
N.Y. Uniform Commercial Code Law § 2-A-514 Waiver of Lessee's Objections
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Section 2-A-514. Waiver of Lessee's Objections.\n (1) In rejecting goods, a lessee's failure to state a particular\ndefect that is ascertainable by reasonable inspection precludes the\nlessee from relying on the defect to justify rejection or to establish\ndefault:\n (a) if, stat…
N.Y. Uniform Commercial Code Law § 2-A-515 Acceptance of Goods
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Section 2-A-515. Acceptance of Goods.\n (1) Acceptance of goods occurs after the lessee has had a reasonable\nopportunity to inspect the goods and\n (a) the lessee signifies or acts with respect to the goods in a\n manner that signifies to the lessor or the supplier that the\n go…
N.Y. Uniform Commercial Code Law § 2-A-516 Effect of Acceptance of Goods; Notice of Default; Burden of Establishing Default After Acceptance; Notice of Claim or Litigation to Perso...
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Section 2-A-516. Effect of Acceptance of Goods; Notice of Default;\n Burden of Establishing Default After Acceptance;\n Notice of Claim or Litigation to Person Answerable\n Over.\n (1) A lessee must pay rent for any goods accepted in accordance with\nthe lease contract, with due …
N.Y. Uniform Commercial Code Law § 2-A-517 Revocation of Acceptance of Goods
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Section 2-A-517. Revocation of Acceptance of Goods.\n (1) A lessee may revoke acceptance of a lot or commercial unit whose\nnonconformity substantially impairs its value to the lessee if the\nlessee has accepted it:\n (a) except in the case of a finance lease, on the reasonable\n…
N.Y. Uniform Commercial Code Law § 2-A-518 Cover; Substitute Goods
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Section 2-A-518. Cover; Substitute Goods.\n (1) After a default by a lessor under the lease contract of the type\ndescribed in Section 2-A-508(1) or, if agreed, after other default by\nthe lessor, the lessee may cover by making any purchase or lease of or\ncontract to purchase or…
N.Y. Uniform Commercial Code Law § 2-A-519 Lessee's Damages for Non-delivery, Repudiation, Default, and Breach of Warranty in Regard to Accepted Goods
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Section 2-A-519. Lessee's Damages for Non-delivery, Repudiation,\n Default, and Breach of Warranty in Regard to Accepted\n Goods.\n (1) Except as otherwise provided with respect to damages liquidated in\nthe lease agreement (Section 2-A-504) or otherwise determined pursuant\nto a…
N.Y. Uniform Commercial Code Law § 2-A-520 Lessee's Incidental and Consequential Damages
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Section 2-A-520. Lessee's Incidental and Consequential Damages.\n (1) Incidental damages resulting from a lessor's default include\nexpenses reasonably incurred in inspection, receipt, transportation, and\ncare and custody of goods rightfully rejected or goods the acceptance of\n…
N.Y. Uniform Commercial Code Law § 2-A-521 Lessee's Right to Specific Performance or Replevin
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Section 2-A-521. Lessee's Right to Specific Performance or Replevin.\n (1) Specific performance may be decreed if the goods are unique or in\nother proper circumstances.\n (2) A decree for specific performance may include any terms and\nconditions as to payment of the rent, damag…
N.Y. Uniform Commercial Code Law § 2-A-522 Lessee's Right to Goods on Lessor's Insolvency
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Section 2-A-522. Lessee's Right to Goods on Lessor's Insolvency.\n (1) Subject to subsection (2) and even though the goods have not been\nshipped, a lessee who has paid a part or all of the rent and security\nfor goods identified to a lease contract (Section 2-A-217) on making an…
N.Y. Uniform Commercial Code Law § 2-A-523 Lessor's Remedies
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Section 2-A-523. Lessor's Remedies.\n (1) If a lessee wrongfully rejects or revokes acceptance of goods or\nfails to make a payment when due or repudiates with respect to a part or\nthe whole, then, with respect to any goods involved, and with respect to\nall of the goods if unde…
N.Y. Uniform Commercial Code Law § 2-A-524 Lessor's Right to Identify Goods to Lease Contract
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Section 2-A-524. Lessor's Right to Identify Goods to Lease Contract.\n (1) After default by the lessee under the lease contract of the type\ndescribed in Section 2-A-523 (1) or Section 2-A-523 (3)(a) or, if\nagreed, after other default by the lessee, the lessor may:\n (a) identif…
N.Y. Uniform Commercial Code Law § 2-A-525 Lessor's Right to Possession of Goods
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Section 2-A-525. Lessor's Right to Possession of Goods.\n (1) If a lessor discovers the lessee to be insolvent, the lessor may\nrefuse to deliver the goods.\n (2) After a default by the lessee under the lease contract of the type\ndescribed in Section 2-A-523(1) or 2-A-523(3)(a) …
N.Y. Uniform Commercial Code Law § 2-A-526 Lessor's Stoppage of Delivery in Transit or Otherwise
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Section 2-A-526. Lessor's Stoppage of Delivery in Transit or Otherwise.\n (1) A lessor may stop delivery of goods in the possession of a carrier\nor other bailee if the lessor discovers the lessee to be insolvent and\nmay stop delivery of carload, truckload, planeload, or larger …
N.Y. Uniform Commercial Code Law § 2-A-527 Lessor's Rights to Dispose of Goods
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Section 2-A-527. Lessor's Rights to Dispose of Goods.\n (1) After a default by a lessee under the lease contract of the type\ndescribed in Section 2-A-523(1) or 2-A-523(3)(a) or after the lessor\nrefuses to deliver or takes possession of goods (Section 2-A-525 or\n2-A-526), or, i…
N.Y. Uniform Commercial Code Law § 2-A-528 Lessor's Damages for Non-acceptance, Failure to Pay, Repudiation, or Other Default
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Section 2-A-528. Lessor's Damages for Non-acceptance, Failure to Pay,\n Repudiation, or Other Default.\n (1) Except as otherwise provided with respect to damages liquidated in\nthe lease agreement (Section 2-A-504) or otherwise determined pursuant\nto agreement of the parties (Se…
N.Y. Uniform Commercial Code Law § 2-A-529 Lessor's Action for the Rent
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Section 2-A-529. Lessor's Action for the Rent.\n (1) After default by the lessee under the lease contract of the type\ndescribed in Section 2-A-523(1) or 2-A-523(3)(a) or, if agreed, after\nother default by the lessee, if the lessor complies with subsection (2),\nthe lessor may r…
N.Y. Uniform Commercial Code Law § 2-A-530 Lessor's Incidental Damages
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Section 2-A-530. Lessor's Incidental Damages.\n Incidental damages to an aggrieved lessor include any commercially\nreasonable charges, expenses, or commissions incurred in stopping\ndelivery, in the transportation, care and custody of goods after the\nlessee's default, in connec…
N.Y. Uniform Commercial Code Law § 2-A-531 Standing to Sue Third Parties for Injury to Goods
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Section 2-A-531. Standing to Sue Third Parties for Injury to Goods.\n (1) If a third party so deals with goods that have been identified to\na lease contract as to cause actionable injury to a party to the lease\ncontract (a) the lessor has a right of action against the third par…
N.Y. Uniform Commercial Code Law § 2-A-532 Lessor's Rights to Residual Interest
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Section 2-A-532. Lessor's Rights to Residual Interest.\n In addition to any other recovery permitted by this Article or other\nlaw, the lessor may recover from the lessee an amount that will fully\ncompensate the lessor for any loss of or damage to the lessor's residual\ninterest…
N.Y. Uniform Commercial Code Law § 3-101 Short Title
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Section 3--101. Short Title.\n This Article shall be known and may be cited as Uniform Commercial\nCode--Commercial Paper.\n
N.Y. Uniform Commercial Code Law § 3-102 Definitions and Index of Definitions
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Section 3--102. Definitions and Index of Definitions.\n (1) In this Article unless the context otherwise requires\n (a) "Issue" means:\n (i) the first delivery of an instrument to a holder or a\n remitter; or\n (ii) if agreed by the payee, the first transmission by the drawer\n t…
N.Y. Uniform Commercial Code Law § 3-103 Limitations on Scope of Article
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Section 3--103. Limitations on Scope of Article.\n (1) This Article does not apply to money, documents of title or\ninvestment securities.\n (2) The provisions of this Article are subject to the provisions of\nthe Article on Bank Deposits and Collections (Article 4) and Secured\n…
N.Y. Uniform Commercial Code Law § 3-104 Form of Negotiable Instruments; "Draft"; "Check"; "Certificate of Deposit"; "Note"
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Section 3--104. Form of Negotiable Instruments; "Draft"; "Check";\n "Certificate of Deposit"; "Note".\n (1) Any writing to be a negotiable instrument within this Article must\n (a) be signed by the maker or drawer; and\n (b) contain an unconditional promise or order to pay a sum\…
N.Y. Uniform Commercial Code Law § 3-105 When Promise or Order Unconditional
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Section 3--105. When Promise or Order Unconditional.\n (1) A promise or order otherwise unconditional is not made conditional\nby the fact that the instrument\n (a) is subject to implied or constructive conditions; or\n (b) states its consideration, whether performed or promised,…
N.Y. Uniform Commercial Code Law § 3-106 Sum Certain
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Section 3--106. Sum Certain.\n (1) The sum payable is a sum certain even though it is to be paid\n (a) with a stated rate of interest or by stated installments; or\n (b) with stated different rates of interest before and after\n default or a specified date; or\n (c) with a stated…
N.Y. Uniform Commercial Code Law § 3-107 Money
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Section 3--107. Money.\n (1) An instrument is payable in money if the medium of exchange in\nwhich it is payable is money at the time the instrument is made. An\ninstrument payable in "currency" or "current funds" is payable in money.\n (2) A promise or order to pay a sum stated …
N.Y. Uniform Commercial Code Law § 3-108 Payable on Demand
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Section 3--108. Payable on Demand.\n Instruments payable on demand include those payable at sight or on\npresentation and those in which no time for payment is stated.\n
N.Y. Uniform Commercial Code Law § 3-109 Definite Time
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Section 3--109. Definite Time.\n (1) An instrument is payable at a definite time if by its terms it is\npayable\n (a) on or before a stated date or at a fixed period after a\n stated date; or\n (b) at a fixed period after sight; or\n (c) at a definite time subject to any accelera…
N.Y. Uniform Commercial Code Law § 3-110 Payable to Order
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Section 3--110. Payable to Order.\n (1) An instrument is payable to order when by its terms it is payable\nto the order or assigns of any person therein specified with reasonable\ncertainty, or to him or his order, or when it is conspicuously\ndesignated on its face as "exchange"…
N.Y. Uniform Commercial Code Law § 3-111 Payable to Bearer
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Section 3--111. Payable to Bearer.\n An instrument is payable to bearer when by its terms it is payable to\n (a) bearer or the order of bearer; or\n (b) a specified person or bearer; or\n (c) "cash" or the order of "cash", or any other indication which\n does not purport to desig…
N.Y. Uniform Commercial Code Law § 3-112 Terms and Omissions Not Affecting Negotiability
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Section 3--112. Terms and Omissions Not Affecting Negotiability.\n (1) The negotiability of an instrument is not affected by\n (a) the omission of a statement of any consideration or of the\n place where the instrument is drawn or payable; or\n (b) a statement that collateral has…
N.Y. Uniform Commercial Code Law § 3-113 Seal
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Section 3--113. Seal.\n An instrument otherwise negotiable is within this Article even though\nit is under a seal.\n