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§12A-2A-510.
§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 that delivery and cannot be cured or the
nonconformity is a defect in the required documents; but if the
nonconformity does not fall within subsection (2) of this section and
the lessor or the supplier gives adequate assurance of its cure, the
lessee must accept that delivery.
(2) Whenever nonconformity or default with respect to one or more
deliveries substantially impairs the value of the installment lease
contract as a whole there is a default with respect to the whole. But,
the aggrieved party reinstates the installment lease contract as a
whole if the aggrieved party accepts a nonconforming delivery without
seasonably notifying of cancellation or brings an action with respect
only to past deliveries or demands performance as to future
deliveries.
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