[Previous] [Next]
§12A-2A-501.
§12A-2A-501.
DEFAULT; PROCEDURE
(1) Whether the lessor or the lessee is in default under a lease
contract is determined by the lease agreement and this article.
(2) If the lessor or the lessee is in default under the lease
contract, the party seeking enforcement has rights and remedies as
provided in this article and, except as limited by this article, as
provided in the lease agreement.
(3) If the lessor or the lessee is in default under the lease
contract, the party seeking enforcement may reduce the party's claim
to judgment, or otherwise enforce the lease contract by self-help or
any available judicial procedure or nonjudicial procedure, including
administrative proceeding, arbitration, or the like, in accordance
with this article.
(4) Except as otherwise provided in subsection (1) of Section 1-106 of
this title or this article or the lease agreement, the rights and
remedies referred to in subsections (2) and (3) of this section are
cumulative.
(5) If the lease agreement covers both real property and goods, the
party seeking enforcement may proceed under this Part as to the goods,
or under other applicable law as to both the real property and the
goods in accordance with that party's rights and remedies in respect
of the real property, in which case this Part does not apply.
[Previous] [Next]