8.2A-501 - A-501. Default; procedure.
§ 8.2A-501. Default; procedure.
(1) Whether the lessor or the lessee is in default under a lease contract isdetermined by the lease agreement and this title.
(2) If the lessor or the lessee is in default under the lease contract, theparty seeking enforcement has rights and remedies as provided in this titleand, except as limited by this title, as provided in the lease agreement.
(3) If the lessor or the lessee is in default under the lease contract, theparty seeking enforcement may reduce the party's claim to judgment, orotherwise enforce the lease contract by self-help or any available judicialprocedure or nonjudicial procedure, including administrative proceeding,arbitration, or the like, in accordance with this title.
(4) Except as otherwise provided in subsection (a) of § 8.1A-305 or thistitle or the lease agreement, the rights and remedies referred to insubsections (2) and (3) of this section are cumulative.
(5) If the lease agreement covers both real property and goods, the partyseeking enforcement may proceed under this part as to the goods, or underother applicable law as to both the real property and the goods in accordancewith that party's rights and remedies in respect of the real property, inwhich case this part does not apply.
(1991, c. 536; 2003, c. 353.)