§ 6A-2.1-510 - Installment lease contracts: Rejection and default.
SECTION 6A-2.1-510
§ 6A-2.1-510 Installment lease contracts:Rejection and default. – (1) Under an installment lease contract a lessee may reject any delivery thatis nonconforming if the nonconformity substantially impairs the value of thatdelivery and cannot be cured or the nonconformity is a defect in the requireddocuments; but if the nonconformity does not fall within subsection (2) and thelessor or the supplier gives adequate assurance of its cure, the lessee mustaccept that delivery.
(2) Whenever nonconformity or default with respect to one ormore deliveries substantially impairs the value of the installment leasecontract as a whole there is a default with respect to the whole. But, theaggrieved party reinstates the installment lease contract as a whole if theaggrieved party accepts a nonconforming delivery without seasonably notifyingof cancellation or brings an action with respect only to past deliveries ordemands performance as to future deliveries.